Erdoğan says his AKP will not be tarnished by fund scandal

ANKARA

Erdoğan speaks at a meeting with provincial leaders in Ankara. (AA Photo)

President Recep Tayyip Erdoğan said on Sept. 29 that a financial scandal involving investment funds and the resignation of a senior official would not tarnish his ruling Justice and Development Party (AKP).

“The AKP is a party that is pure, as its name suggests. It truly embodies the meaning of its name. No one can tarnish this party’s purity or cast a stain upon it,” Erdoğan said at a meeting with provincial leaders in Ankara.

Without naming specific individuals, Erdoğan noted that certain figures have tried to undermine the party.

“Some lost their way, some became slaves to their egos, some were deceived by the devil, and some infiltrated or were infiltrated into our ranks specifically to tarnish this blessed movement. We part ways with those who do wrong and those who succumb to their desires, and continue our path stronger,” he said.

“We renew ourselves as we move forward. We advance by refreshing ourselves. We part ways with those who succumb to their egos and continue on our path with greater strength.”

His remarks came after AKP deputy chair Fatma Betül Sayan Kaya resigned from her party posts Sept. 26 after allegations concerning her stock transactions emerged.

Sayan Kaya and her husband, İlyas Kaya, are accused of making large gains from shares in shipbuilder Özata Denizcilik shortly before a broader financial market turmoil.

The scandal has shaken Türkiye’s financial markets and prompted authorities to investigate alleged irregularities involving investment funds. The Capital Markets Board (SPK) ordered the liquidation of 131 funds on Sept. 17, affecting about 455,000 individual investors, according to figures reported by Turkish authorities.

Erdoğan said the State Supervisory Council had been activated to examine recent investment-fund transactions.

Following Erdoğan’s remarks, Türkiye’s Communications Directorate announced that a “Fund Coordination Board” had been established under Vice President Cevdet Yılmaz to coordinate the process.

The president also hit back at main opposition New Party leader Özgür Özel, who had called on him to resign over the scandal.

“There are insolent and shameless people who dare to attack the AK Party family because of a few negative examples,” Erdoğan said. “We will not tolerate this.”

He accused the opposition of trying to lecture the ruling party on ethics while failing to examine its own record, telling his critics: “Look in the mirror first.”

During the event, five mayors from the Republican People’s Party (CHP), three from the New Welfare Party (YRP) and one from the İYİ (Good) Party joined the AKP.

The fund scandal has also drawn support for the government’s response from Erdoğan’s key ally, Nationalist Movement Party (MHP) leader Devlet Bahçeli.

Welcoming the decision to pursue the issue, Bahçeli expressed support for the announced measures. He cited financial-market stability, holding those engaging in market-distorting transactions responsible and protecting small investors from such situations as key priorities.

The MHP leader also warned against turning the scandal into what he described as an attack or slander against Erdoğan and the ruling alliance.