Vice of the Erdogan party in Turkey resigns after scandal with funds

“ Vejo as necessary to assume this political responsibility, for the possibility an objective investigation, that does not leave any shadow ", wrote Fatma Betül Sayan Kaya on the social network 'X' (old Twitter).

Kaya, 45, was a ‘vice’ of AKP, an Islamist party founded and chaired by Erdogan, in power in Ankara since 2002, and is the first major consequence of the ‘scandal’ related to the manipulation of the stock market and a pyramid scheme involving investment funds.

The Yeni party, which leads the opposition, had accused the former Minister for Social Affairs (2016-2018) of having profited close to 23 million euros from the sale of Özata's shares, purchased in April by 1.2 million euros.

According to this party, Kaya’s husband also had millionaire profits with the same operation and relative to the same company, whose valuation ‘fired’ 1,800% since April.

Son günlerde meydana gelen ve kamuoyunu meşgul eden bir meseleyle ilgili olarak bugün şahsım hakkında birtakım iddia ve değerlendirmeler gundeme getirilmiştir.

Cumhurbaşkanımız ve Genel Başkanımız Sayın Recep Tayyip Erdoğan, geçtiğimiz günlerde söz konusu meseleye ilişkin ortaya..

— Dr Betül Sayan Kaya September 26, 2026

On September 17, an investigation was opened to six investment funds for the creation of what the Government called “Pyramid System” to artificially inflate the value of the shares and attract more customers.

The authorities have dissolved more than a hundred funds on the Istanbul Stock Exchange, in a scheme that will have affected more than 450,000 customers, with losses estimated by the local press at more than EUR 15 billion.

47 people are in protective custody linked to the case, most managers of the funds Tera, Pusula, Hedef and Bulls.

Turkey’s Capital Market Authority (SPK) has investigated and attempted to halt the impact of this type of stock, and in August, when it ordered the diversification of portfolios, it led to the sale of shares and withdrawal of assets by investors.

The government has already promised that it will recover the amounts lost by the affected investors, which will be repaid, in a case where the authority has promised a “no compromise” fight against corruption, in which any claims “will be investigated and all irregularities exposed”.

Finance Minister Mehmet Simsek considered “unfounded” the allegations that he would resign, and Erdogan himself came to defend the country’s financial infrastructure, safe from “any risk”.