A deputy chair of Turkish President Tayyip Erdogan’s ruling AK Party has resigned from her party duties after an opposition politician accused her and her husband of making a large profit from shares shortly before a major stock-market selloff.
Fatma Betul Sayan Kaya, who oversees social policies for the AK Party and previously served as family minister, said she had asked Erdogan to relieve her of her positions so the allegations could be investigated.
The opposition politician alleged that Kaya and her husband invested about 163 million lira ($3.3 million) in April, mainly in shares of shipbuilder Ozata Denizcilik, and later received about 2.17 billion lira ($44 million) from selling the holdings.
Kaya did not comment on the specific allegations but said she was taking political responsibility while the claims were examined. The allegations have emerged amid a broader crisis in Turkey’s investment-fund industry that triggered a sharp stock-market selloff and prompted regulatory intervention.
Turkish authorities have moved to support financial stability after some investment funds faced difficulties meeting withdrawal requests. Ozata Denizcilik has also said two senior executives were jailed pending trial as part of an investigation into the crisis.
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