Turkey's AKP Deputy Chair Resigns Amid Share Trading Allegations

Turkey's ruling Justice and Development Party (AKP) has accepted the resignation of its deputy chairwoman, Fatma Betul Sayan Kaya, following allegations that she sold shares worth tens of millions of dollars shortly before a sharp market downturn.

Kaya, who served as Turkey's family and social affairs minister from 2016 to 2018, asked to be relieved of her party duties on Saturday. AKP spokesman Omer Celik confirmed on Sunday that President Recep Tayyip Erdogan, who also chairs the party, had approved her request.

"We declare that all those who are involved in irregularities, corruption, abuse or anything that causes harm will be held accountable," Celik said.

The allegations stem from a stock market crisis on September 16, when Turkish stocks plunged amid suspected share-price manipulation involving several investment funds. Zeynel Emre, a spokesperson for the main opposition New Party, claimed that Kaya received around 1.3 billion Turkish lira ($27.5 million) from selling shares just before the market fell. Emre said she had purchased the shares, most of them in shipbuilding company Ozata Denizcilik, for 63.4 million lira ($1.3 million) in April.

Kaya has not directly responded to the allegations. She said she was stepping down so the claims could be "clarified" and asked for forgiveness from Erdogan.

Separately, the Istanbul Chief Public Prosecutor's Office has launched legal proceedings against 76 people as part of an investigation focusing on seven investment funds.