Stock scandal: Turkey arrests ex-minister Fatma Betul Sayan Kaya

Turkish authorities detained former Family Minister Fatma Betul Sayan Kaya on Thursday night. She is awaiting a potential trial on charges of belonging to a criminal organization and violating Turkey's Capital Markets Law. The state news agency Anadolu confirmed the detention.

Kaya stepped down as vice president of President Recep Tayyip Erdogan's Justice and Development Party in September. Her resignation came shortly after reports emerged that she sold shares worth tens of millions of dollars. This sale occurred just before regulators moved to liquidate several investment funds over suspected price manipulation.

Kaya served as the minister of Family and Social Affairs from 2016 to 2018. Her husband was released following a second round of joint interrogations. He is required to check in regularly with police as a condition of his freedom.

The main opposition party in Turkey accused Kaya of receiving 2.17 billion lira. That amount is equivalent to 43 million dollars. They claim this profit followed a reported investment of 163 million lira, or 3 million dollars, in one of the affected funds. The couple denies any irregularities, though local press reports say they have transferred part of the gains to a bank-designated account.

Justice Minister Akin Gurlek stated this week that more than 430 people are under investigation. The probe covers suspected market manipulation and insider trading. Of those, 112 have been detained as part of the ongoing scandal.