Turkish investment fund scandal involves senior AKP officials and presidential relatives

A growing investment fund scandal in Turkey has escalated, centering on allegations of illicit gains involving high-ranking members of the ruling Justice and Development Party (AKP). Former Family Minister and AKP Vice President Fatma Betul Sayan Kaya and her husband, Ilyas Kaya, have returned 1.86 billion Turkish lira to the Savings Deposit Insurance Fund (TMSF) as part of a voluntary repayment process, though this is not a legal admission of guilt. Following a probe, the Istanbul Prosecutor's Office summoned the couple to testify as suspects regarding potential violations of capital markets legislation, a move permitted by the Capital Markets Board (SPK).

Beyond the couple, the opposition is intensifying its criticism of the government. The main opposition leader, Ozgur Ozel, claims the scandal implicates ministers, party officials, and even relatives of President Tayyip Erdogan, specifically mentioning the President's nephew, Usame Erdogan, in connection with Lydia Holding. Meanwhile, New Party representative Zeynel Emre has accused AKP spokesperson Omer Celik of personal ties to Osman Arikan Najar, a former bureaucrat alleged to have fled the country with 20 billion Turkish lira. Authorities continue to investigate the expansive network of financial irregularities, with several associated individuals already under detention.