Turkish ruling party official Fatma Betul Sayan Kaya has resigned from all her party duties amid allegations of insider trading in the stock market. Kaya, a deputy chair of the ruling Justice and Development Party (AKP) and former family and social policy minister, announced her resignation on Saturday, citing the need to ensure the integrity of investigations and allow for the clarification of allegations.
Kaya's resignation comes after allegations were made by Zeynel Emre, spokesman for the opposition New Party, that Kaya and her husband, Elias Kaya, had made significant profits from trading shares in the company Ozata Denizcilik. According to Emre, Kaya bought 250,000 shares in Ozata Denizcilik starting from April 8 and sold them in September at a significant profit.
The allegations against Kaya and her husband have sparked widespread attention, with many questioning how they were able to make such significant profits in a short period. Emre claimed that Kaya and her husband invested a total of 163.046 million lira and withdrew around 2.17 billion lira, a difference of nearly 2 billion lira.
The Turkish government has launched investigations into the allegations, with the Capital Markets Board (CMB) announcing in September that it had filed complaints against 11 individuals over transactions in Ozata Denizcilik shares. The CMB also imposed a two-year trading ban on the individuals and revoked the licenses of five of them.
Kaya's resignation has sparked a new wave of scrutiny, with many calling for further investigations into the matter. Turkish Justice Minister Akin Gurluk announced that investigations into investment funds had resulted in the freezing of assets worth 46 entities and 18 funds, as well as the imposition of judicial supervision on 37 suspects.
The scandal has raised concerns about the integrity of Turkey's stock market and the potential for insider trading. Turkish Parliament Speaker Numan Kurtulmus stated that the parliament could set up an investigative committee to probe the allegations.
Kaya's resignation and the ongoing investigations have put pressure on the AKP government to take action to address concerns about corruption and transparency. The government has promised to take steps to prevent similar scandals in the future and to ensure that those responsible are held accountable.
Key points
- Turkish ruling party official Fatma Betul Sayan Kaya resigns amid allegations of insider trading.
- Investigations into investment funds have resulted in the freezing of assets and imposition of judicial supervision on suspects.
- The scandal has raised concerns about the integrity of Turkey's stock market and the potential for insider trading.
