An Istanbul court has placed former Turkish family minister Fatma Betul Sayan Kaya in custody pending trial over an ongoing investigation into a multi-billion-dollar investment fund scandal, according to Punch.
The court remanded the former government official on charges involving breaches of the country's capital markets law and belonging to an organisation formed to carry out criminal acts.
Kaya previously headed Turkey's family ministry between 2016 and 2018. Up until late September, she also occupied the position of deputy chair in the ruling Justice and Development Party, widely known as the AKP, led by President Recep Tayyip Erdogan.
She resigned from her leadership role on 26 September after the main opposition Yeni party accused her of gaining large profits from the market crisis. A legislator from the opposition group had demanded answers regarding claims that Kaya and her spouse secured millions by selling off shares ahead of public awareness, triggering suspicions of insider trading.
Following the emergence of the allegations, Kaya also withdrew her membership from the ruling political party.
Turkish authorities have been working to manage the aftermath of the market crisis since it broke out in the middle of September. Prosecutors are currently examining allegations of extensive manipulation that impacted the savings of almost 500,000 investors across the country.
Providing an update on the investigation earlier in the week, Justice Minister Akin Gurlek disclosed that 112 individuals had already been detained pending trial. Gurlek stated that investigators uncovered an extensive criminal network that had worked its way into top tiers of the nation's financial system.
