After Fatma Betül Saya Kaya... Remarkable 'fund profiteering' allegation: 'Erişah Arıcan may also be detained'

Fatma Betül Sayan Kaya, who was referred to the court for "opposition to the Capital Markets Law" and "being a member of an organization established for the purpose of committing a crime" within the scope of the fund investigation, was arrested.

Sayan Kaya's duties in AKP were terminated following the allegations in question.

In Kaya's referral letter, it was stated that he was acquainted with Erdin Özel, one of the Tera Group managers, from the past, that this meeting continued intensively during the share investment process, and that he also met with Tera Group Chairman Emre Tezmen, and that it was confirmed by transactions and statements that he opened an investment account with Tera Group.

In the article, it is stated that the increase in the share value of the relevant share started in April 2026, and the downward trend continued until September 16, one day before September 17, the date of the liquidation decision taken regarding the funds. AŞ and the share value was deposited into the suspect's account on the same day."

After all this, a remarkable claim came from journalist Fatih Altaylı. In his article titled 'Black boxes are being reached', Altaylı claimed that the investigation was 'progressing towards a more critical and important stage'.

The relevant part of Altaylı's article is as follows:

"The day after the fund fraud broke out, “The first signal that a disaster was coming was felt when a deputy minister was transferred from his current position to a passive role. This change gave signals from two places. It was known that the deputy minister's relationship with Enver Çevik, who was included in the Bebek Hotel investigation, and that the deputy minister's wife was in the management of Bulls Investment. "The sudden dismissal of the deputy minister was actually a sign." I wrote.

Since that day, I have been waiting to see when that day would come.

It came.

We got to the point.

The former deputy minister, whose removal from the post of deputy minister was the signal for the fund fraud operation, was later removed from the BTK board membership to which he was appointed; It was also requested that the assets of his wife, a partner of Bulls Investment and Lydia Holding, be taken, and the real estate, air and land vehicles registered in her name were also requested to be investigated. Again, names such as K. Akkaya and N. Çevik, whose names or initiatives were previously mentioned in this column, as well as BRSA Vice President M. Erişen and Takasbank General Manager Y. Arıncı, were also detained.

These names are very, very important. The investigation is moving towards a more critical and important stage than the arrest of Fatma Betül Sayan Kaya.

They are so key that they can be described as the "black box" of this stock market and fund fraud, so to speak. Therefore, it is possible to say that as of today, the investigation has moved to another stage.

There is news coming from circles close to the government that Erişah Arıcan, known as the first female chairman of the board of directors of Borsa Istanbul and vice president of the Türkiye Wealth Fund, may be detained in the next move. I don't know if these are information or wishes, but frankly, I see that this is not very easy.

Despite this, the investigation extends to more important and key figures at every stage. This increases confidence in the prosecutors conducting the investigation.

What is at least as interesting is that, while journalists, mayors and municipal bureaucrats are being detained and arrested in rapid succession, a so-called opposition person who has not made a single line of criticism about the Ministry of Justice and has taken refuge in the armor of immunity has now started to target the Ministry of Justice, right during this investigation. And from the mouth of some AK Party members who are disturbed by this investigation."

BERAT ALBAYRAK'S THESIS ADVISOR

Prof. was elected as a Member of the Board of Directors of Borsa Istanbul on April 1, 2016. Dr. Erişah Arıcan was appointed as a Board Member of the Türkiye Wealth Fund on September 12, 2018.

He has been serving as the Chairman of the Board of Directors of Borsa Istanbul since September 27, 2018.

Arıcan is also known as the 'thesis advisor' of former Minister of Treasury and Finance Berat Albayrak.