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Turkey’s $17bn fund scandal becomes a political crisis for Erdogan

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Turkey’s $17bn fund scandal becomes a political crisis for Erdogan Submitted by Ragip Soylu on Tue, 09/29/2026 - 10:22 President vows accountability as the liquidation of 130 investment funds exposes ties to Turkey’s ruling elite A picture taken in Istanbul shows US dollar banknotes and Turkish lira banknotes, 27 January 2021 (Ozan Kose/AFP) Off A crisis involving Turkish investment funds accused of running Ponzi-like schemes has affected half a million people, with authorities ordering the liquidation of some 130 funds worth $17bn earlier this month. Already historic in scale, the financial turmoil has quickly become a major political crisis for President Recep Tayyip Erdogan’s administration, exposing a web of connections between the funds, their managers and the ruling elite. The most prominent political casualty so far has been Fatma Betul Sayan Kaya , a deputy head of the ruling Justice and Development Party (AKP) and family minister from 2016 to 2018. She resigned on Sunday after

First report: Turkey’s ex-minister resigns as investment fund crisis grows — freemalaysiatoday.com, 2d