Former Turkish Minister's Assets Frozen Over Ponzi Scheme

Turkish prosecutors have initiated the freezing of assets belonging to Fatma Betul Sayan Kaya, a former Family Minister and deputy head of the ruling AKP, and her husband, Ilyas Kaya, over allegations related to a Ponzi scheme. This action follows Kaya's resignation on September 30, 2026, amid accusations from the opposition party, Yeni Parti, that she and her husband profited significantly from an investment fund crisis.

Reports indicate they invested 63 million lira ($1.3 million) in April and withdrew shares in September, allegedly earning around 1.3 billion lira ($26.5 million). Kaya stated her resignation was to take "political responsibility" and facilitate an independent investigation.

President Recep Tayyip Erdogan defended the integrity of the AKP during a meeting with economic aides, asserting that the party remains clean despite the ongoing scandal. The crisis began in mid-September when several funds failed to meet investor redemption demands, leading to the liquidation of seven companies managing 131 investment funds.