Former Turkish Minister Fatma Betül Sayan Kaya Arrested in Insider Trading Probe
Former Turkish minister and senior ruling party figure Fatma Betül Sayan Kaya has been arrested amid a sweeping investigation into insider trading and capital market manipulation, prosecutors said.
Fatma Betül Sayan Kaya, a former Turkish minister of family and social services and a senior figure in President Recep Tayyip Erdogan’s ruling party, has been arrested as part of a sweeping investigation into capital market manipulation and insider trading. According to prosecutors, Kaya sold shares just one day before a dramatic regulatory decision, exploiting non-public information.
An Istanbul court ordered Kaya's detention after prosecutors sought to indict her on charges of violating capital market laws and belonging to a criminal organization, as reported by Anadolu Agency, Reuters, and AP. Her husband, Ilyas Kaya, and the former chairman of the Turkish Capital Market Authority, Ibrahim Omer Gonul, were also questioned and released under judicial supervision, including a travel ban.
According to prosecution documents, Kaya acquired shares in the Turkish shipyard and maritime firm Ozata Denizcilik in April 2026. On September 16, she transferred her holdings to the investment firm Tera Yatırım, receiving full payment into her account the same day. Just a day later, on September 17, a decision was issued to liquidate investment funds linked to the case. Prosecutors argue that the timing of the transaction indicates prior knowledge of the upcoming decision. Investigators are also examining her ties with Tera Group executives.
The scandal has sparked political turmoil in Turkey after an opposition figure claimed that Kaya and her husband generated profits of roughly 2.17 billion Turkish liras, or about $43 million, from investments initially valued at 163 million liras. According to Reuters, Ozata Denizcilik shares surged from around 220 liras in early April to approximately 4,980 liras by September 15. Kaya previously resigned from her party leadership role and the party itself following the allegations. Turkish Justice Minister Akin Gurlek stated that the broader investigation involves more than 430 suspects, with 112 individuals detained. Kaya and her husband deny any wrongdoing.
