Turkish ruling party official resigns amid financial scandal

Fatma Betul Sayan Kaya, a vice-chair of Turkey's ruling AKP and former Minister of Family, resigned from her political posts on September 26, 2026, following allegations of insider trading. Opposition official Zeynel Emre accused Kaya and her husband, Ilyas Kaya, of investing 163 million Turkish lira in April to acquire shares of Ozata Denizcilik, which were later sold for approximately 2.17 billion lira. While the accusations currently remain unproven, the Istanbul Prosecutor's Office has requested the freezing of the couple's assets as part of a wider investigation.

The resignation is part of a broader financial crisis involving investment funds managed by companies like Tera Portfoy, which recently failed to meet investor redemption requests. The scandal has led to at least 45 arrests, including a former deputy governor of the Central Bank, and the detention of several high-profile financial executives, such as Altunc Kumova and Emre Tezmen. While President Recep Tayyip Erdogan has dismissed the broader economic concerns and promised accountability for market manipulation, media reports have also highlighted potential business links between the president's nephew, Usame Erdogan, and entities under scrutiny. Authorities continue to investigate the extent of the market manipulation and potential corruption within Turkish financial institutions.