Fatma Betül Sayan Kaya Arrested in Fund Investigation

Former minister Fatma Betül Sayan Kaya has been arrested as part of a fund investigation into transactions in the capital markets conducted by the Terrorism Financing and Money Laundering Crimes Investigation Bureau of the Istanbul Chief Public Prosecutor's Office. Kaya, who came to the Istanbul Courthouse to testify, was referred to the duty magistrate judge with a request for arrest on charges of 'violating the Capital Markets Law' and 'membership in an organization formed to commit crimes' following prosecutor's proceedings. Within the scope of the investigation, İlyas Kaya and former Capital Markets Board (SPK) Chairman İbrahim Ömer Gönül also testified. The prosecutor's office requested judicial control measures for both suspects, including 'signing' and 'travel ban abroad.' The court ruled for judicial control measures for İlyas Kaya and İbrahim Ömer Gönül. In the referral for arrest, it was stated that a report was prepared by the Capital Markets Board based on transaction data and findings regarding the shares of Özata Denizcilik San. ve Tic. A.Ş. The report indicated that the suspect possessed non-public information that could affect the price or value of the capital market instrument or investors' decisions. When the transactions in the relevant stock and the capital and shareholding structure on the Public Disclosure Platform (KAP) were examined, it was determined that Tera Group conducted intensive purchases of OZATD shares on a company and fund basis. In the statements taken, it was conveyed that Kaya mentioned having a longstanding acquaintance with Erdin Özel, one of Tera Group's managers, and that these meetings continued intensively during the stock investment process. It was recorded that Kaya also said she met with Emre Tezmen, Chairman of Tera Group's Board of Directors, and that it was confirmed by transactions and statements that she opened an investment account at Tera Group. According to the referral, the rise in the value of the relevant stock began in April 2026 and continued until September 16, 2026, one day before the liquidation decision regarding the funds was made on September 17, 2026. It was stated that Kaya bought OZATD shares in April 2026 and carried out the sale on September 16, 2026. It was expressed that the shares were not sold in the market on that date but were taken over by Tera Yatırım Menkul Değerler A.Ş. through a transfer, and the share price was deposited into the suspect's account on the same day. It was conveyed that OZATD shares were in a 'T+2' position, but the sale of Kaya's shares was made through a transfer in a 'T+0' position and the balance was transferred to the account on the same day. Not investment advice.