CrimeBusiness & FinancePolitics

Arrest of Fatma Betül Sayan Kaya in Turkish fund investigation

Illustration

Former Turkish minister Fatma Betül Sayan Kaya was arrested in an investigation into alleged price manipulation. She is suspected of violating capital-markets law and belonging to a criminal organisation. Her husband, Ilyas Kaya, was released under judicial supervision and is barred from leaving the country; the couple deny wrongdoing.

Investigators said Kaya had non-public information that could affect the value of investments. She is alleged to have bought shares in April and sold them on 16 September, a day before the regulator abolished the funds concerned. An opposition representative had previously alleged that the couple made about €38 million from share sales. Kaya, formerly a vice-president of the ruling AK Party, resigned from that post in September amid the scandal.

More on this story