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Turkey arrests ex-minister as part of a widening fund manipulation scandal

Compiled Nov 6

Turkey arrests ex-minister as part of a widening fund manipulation scandal
Turkey arrests ex-minister as part of a widening fund manipulation scandal · Photo: The Associated Press
1

What happened

Fatma Betul Sayan Kaya, a former minister and deputy chair of Erdogan's ruling party, was arrested over alleged share-price manipulation involving investment funds.

2

The detail

Kaya resigned as deputy chair of the Justice and Development Party in September after allegations she sold shares before regulators liquidated the funds.

3

The detail

She served as family and social affairs minister from 2016 to 2018.

4

The detail

She was taken into custody late Thursday pending possible trial on charges of criminal organization membership and violating Turkey's Capital Markets Law.

5

How it unfolded

2016 to 2018: Kaya served as Turkey's family and social affairs minister. · September: Kaya resigned as deputy chair of the ruling AKP after manipulation allegations emerged. · late Thursday: Kaya was taken into custody pending possible trial. · this week: Justice Minister Akin Gurlek said over 430 people are under investigation, with 112 arrested.

6

By the numbers

2.17 billion liras ($43 million) alleged profit received · 163 million liras ($3 million) alleged initial investment · 430+ people under investigation · 112 people arrested · 2016 to 2018 years as minister

7

Still unresolved

Whether Kaya will actually face trial is described only as 'pending a possible trial.'

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