06.11.2026 07:30
Former Minister Fatma Betül Sayan Kaya was arrested in the fund investigation conducted by the Istanbul Chief Public Prosecutor's Office. In the prosecutor's referral letter, it was stated that Kaya was in contact with Tera Group executives, sold her OZATD shares one day before the liquidation decision, and received her money the same day instead of after a 2-day settlement period. While the prosecutor's office assessed that Kaya knew about the liquidation decision in advance, her husband İlyas Kaya and former Capital Markets Board (SPK) Chairman İbrahim Ömer Gönül were released under judicial control.
There has been a significant development in the fund investigation conducted by the Istanbul Chief Public Prosecutor's Office regarding transactions in the capital markets. Former Minister of Family and Social Policies Fatma Betül Sayan Kaya, her husband İlyas Kaya, and former Chairman of the Capital Markets Board (CMB) İbrahim Ömer Gönül came to the Istanbul Courthouse to testify as suspects for the second time. It drew attention that the Kaya couple, who are stated to have made a profit of 2.1 billion TL from the fund, did not answer journalists’ question, “How did you obtain the 163 million TL principal?” The Kaya couple walked hand in hand to the prosecutor’s office. Fatma Betül Sayan Kaya, whose interrogation lasted 2 hours and 15 minutes, was referred to the Criminal Judgeship of Peace with a request for arrest on charges of “membership in a criminal organization” and “violating the Capital Markets Law.” İlyas Kaya and Gönül were released under judicial control conditions.
FATMA BETÜL SAYAN KAYA ARRESTED
The judgeship decided to arrest Fatma Betül Sayan Kaya on charges of “membership in a criminal organization” and “violating the Capital Markets Law.”
PROSECUTOR’S REFERRAL LETTER OBTAINED
In the referral letter sent by the prosecutor’s office to the duty Criminal Judgeship of Peace, transaction data and findings regarding the shares of Özata Denizcilik San. ve Tic. AŞ were included. In the report prepared by the Capital Markets Board (CMB), it was stated that Fatma Betül Sayan Kaya possessed undisclosed information of a nature that could affect the price or value of the capital market instrument or investors’ decisions. In the letter, which stated that a criminal complaint was filed with the prosecutor’s office in this context, it was set out that Tera Group made intensive purchases in OZATD shares at the company and fund level.
MEETINGS WITH TERA MANAGERS ARE IN THE FILE
The referral letter also included Kaya’s statement. Accordingly, Kaya stated that she had a long-standing acquaintance with Tera Group manager Erdin Özel and that their meetings continued intensively during the share investment process. It was recorded that Kaya also stated she met with Tera Group Chairman of the Board Emre Tezmen. The letter stated that it was also confirmed by transaction records and statements that Kaya opened an investment account within Tera Group.
SHE SOLD HER SHARES ONE DAY BEFORE THE LIQUIDATION
In the referral letter, it was set out that the price increase in OZATD shares began in April 2026, and the downward trend continued until September 16, one day before September 17, when the liquidation decision regarding the funds was taken. In the letter, which stated that Kaya bought OZATD shares in April 2026 and sold them on September 16, it was recorded that the sale did not take place on the stock exchange and that the shares were transferred to Tera Yatırım Menkul Değerler AŞ by transfer. It was stated that the share sale proceeds were also deposited into Kaya’s account on the same day.
ATTENTION DRAWN TO T+0 TRANSACTION INSTEAD OF T+2
In the prosecutor’s referral letter, it was recalled that OZATD shares are normally in a T+2 position, meaning that the amount obtained from the sale was credited to the account after a two-business-day settlement process. However, it was stated that Kaya’s shares were transferred by transfer in a T+0 position and the sale price was deposited into the account on the same day.
SHE KNEW ABOUT THE LIQUIDATION DECISION!
Drawing attention to the transfer of the shares one day before the liquidation decision, the prosecutor’s office made the following assessment:
“Considering that the sale transaction here was dated September 16, that is, this transaction took place 1 day before the liquidation, that the suspect was in dialogue with Tera Group managers as stated, and that although she was a stock exchange investor for the first time, the investment amount was high, it is seen that the suspect knew the price movement range of the share and also carried out transactions knowing that the liquidation decision would be made.”
REASON FOR THE ARREST REQUEST
In the referral letter, it was stated that there was a suspicion that Kaya would flee and destroy evidence, and that judicial control provisions would be insufficient at this stage.
Noting that there were facts indicating a strong criminal suspicion that she committed the offense attributed to her and that grounds for arrest existed, the prosecutor’s office requested the arrest of Fatma Betül Sayan Kaya.