World

Turkey arrests ex-minister Fatma Betul Sayan Kaya over investment fund scandal

By Linda Ikeji 6 November 2026, 10:59 am

Authorities in Turkiye have arrested a former minister and deputy chair of President Recep Tayyip Erdogan’s ruling party over her alleged role in a share-price manipulation scandal involving several investment funds.

Fatma Betul Sayan Kaya resigned as deputy chair of Turkey’s ruling Justice and Development Party in September, shortly after allegations surfaced that she had sold shares worth tens of millions of dollars shortly before regulators ordered the liquidation of investment funds over alleged market manipulation.

Kaya, who served as family and social affairs minister from 2016 to 2018, was taken into custody late on Thursday pending a possible trial on charges of membership in a criminal organization and violating Türkiye’s Capital Markets Law, the state-run Anadolu Agency reported.

Her husband was released on condition that he regularly reports to police, following a second round of questioning for the couple.

Türkiye’s main opposition party has accused Kaya of receiving 2.17 billion liras ($43 million) after reportedly investing 163 million liras ($3 million) in one of the funds.

The couple have denied any wrongdoing but have transferred some of the profits to an account designated by the banking regulators, according to media reports.

More than 430 people are under investigation over suspected market manipulation and insider trading, including 112 who have been arrested as part of the scandal, Justice Minister Akin Gurlek said this week.