AKP to table ten-article bill for liquidating troubled investment funds

The ruling Justice and Development Party has drafted a ten-article bill aimed at liquidating funds and repaying investors caught up in a high-profile fund scandal. A parliamentary working group, coordinated by group chairman Abdullah Güler, compiled the legislation, which targets assets up to 1 million Turkish Lira held by 455,578 investors. Submission to the Grand National Assembly is expected on either Oct. 9 or Oct. 12.

Deputy group chair Özlem Zengin emphasized that legal action will be taken against any misuse of investors’ money, irrespective of political or social ties. In related developments, former Family and Social Services Minister Fatma Betül Sayan Kaya and her husband İlyas Kaya returned only the profits they had taken from the investigated funds, depositing 1.86 billion lira with the Savings Deposit Insurance Fund. Meanwhile, Ali Emre Ballı, linked to the probe, was discovered dead from a gunshot wound in his vehicle in Istanbul’s Çekmeköy district, prompting an ongoing investigation.