09.11.2026 12:00
It had emerged that former Minister Fatma Betül Sayan Kaya and her husband İlyas Kaya, who were arrested in the fund investigation, invested 163 million TL in the stock market and withdrew approximately 2.17 billion TL. While the source of the millions of liras of investment became a matter of curiosity, Kaya stated in her statement before the judge that her monthly income was 500,000 TL and said that she and her husband had entered the stock market to evaluate their savings.
New details have drawn attention regarding the share transactions and magistrate judge defense of former Minister of Family and Social Policies Fatma Betül Sayan Kaya, who was arrested in the fund investigation conducted by the Istanbul Chief Public Prosecutor's Office.
THEY DEPOSITED 163 MILLION TL, WITHDREW 2.17 BILLION TL
According to data reported in the file, in April 2026 Kaya invested approximately 63.4 million TL in shares of Özata Denizcilik Sanayi ve Ticaret A.Ş. (OZATD), while her husband İlyas Kaya's transaction amount was 99.7 million TL. The couple's total investment amounted to 163.1 million TL. According to the figures reported, the amount Fatma Betül Sayan Kaya withdrew from share transactions in September was recorded as approximately 1.34 billion TL. It was stated that her husband İlyas Kaya withdrew 826 million TL in return for a 99.7 million TL transaction. Thus, in return for the couple's total investment of 163.1 million TL, the money they withdrew was approximately 2 billion 166 million TL. The difference between the two amounts was calculated as approximately 2 billion 3 million TL.
HOW DID SHE EXPLAIN THE SOURCE OF THE 163 MILLION TL INVESTMENT?
In her defense before the magistrate judge, Kaya stated that her monthly income was 500,000 TL and also explained how she and her husband decided to invest in the stock market. Kaya, who said she had received economics training but had not previously traded on the stock market because she was a politician, argued that they decided to invest in order to make use of their savings.
Kaya said, "Both what Mr. Erdin said and what I heard from many politicians around me—that the stock market is an investment tool, that it is subject to supervision by institutions such as the SPK and BDDK, that everyone invests and there is no problem—led us, my husband and me, to make an investment in this direction."
However, Kaya's statement did not include a detailed breakdown of which income or assets covered the total investment amount of 163.1 million TL.
"I DID NOT HAVE A STOCK MARKET ACCOUNT UNTIL THAT DAY"
Kaya, who argued that she met with Tera Group executive Erdin Özel only for the purpose of getting acquainted, stated that she also learned about Tera Holding's activities during this meeting. Kaya, who said that Erdin Özel had been recommended to her by some politicians but that he was never her assistant, claimed that she did not discuss stock market transactions with him.
Kaya said, "Until that day, I did not have a stock market account. I have also stated that, as I have been a politician until today, I have had nothing to do with the stock market." Kaya, who said she met with Emre Tezmen only once, denied the allegation that she was in intensive contact with Tera executives.
THE MAGISTRATE JUDGE DREW ATTENTION TO THE SEPTEMBER 16 TRANSACTION
In the arrest decision, however, emphasis was placed on the fact that Kaya carried out a high-value transaction despite saying that she was investing in the stock market for the first time. The magistrate judge drew attention to the fact that the OZATD shares were disposed of on September 16 and that this date coincided with one day before the liquidation decision regarding the funds.
The decision stated that the transaction was carried out by transfer (virman) rather than a normal market sale, and that the sale proceeds were transferred to Kaya's account on the same day. The magistrate judge, considering these transactions together with the assessments regarding contact with Tera Group executives, ruled that there was strong suspicion of crime.
"I SOLD MORE THAN HALF OF MY SHARES IN AUGUST"
Kaya, however, objected to the prosecutor's assessment regarding the share sales and argued that she had sold more than half of her shares in August. Kaya stated that after the liquidation decision regarding the funds was taken on September 17, she and her husband applied to the TMSF, and said that they returned the amount notified to them on October 5.
Kaya, who denied the accusations against her, was decided to be arrested based on the assessment that not all evidence had yet been collected and that judicial control measures would be insufficient.