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Turkey Economy Minister Caglayan Resigns Amid Graft Probe

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Dec. 25 (Bloomberg) -- Turkey’s Economy Minister Zafer Caglayan resigned today, saying he is stepping down to expose a “dirty game” and allow “the truth to be uncovered” amid a graft probe, his office said in a statement.

Caglayan resigned just over a week after police detained his son amid a probe into bribery, money laundering and gold smuggling and ahead of a possible cabinet change by Prime Minister Recep Tayyip Erdogan this week.

Erdogan may replace more than 10 ministers over graft allegations, Hurriyet newspaper said today, without citing anyone. A total of four ministers, including Caglayan, were implicated in the probe, according to the government.

Along with Caglayan’s son, those charged and detained so far include Suleyman Aslan, chief executive officer of state-lender Turkiye Halk Bankasi AS as well as a son of Interior Minister Muammer Guler.

Related News and Information: Erdogan Fighting Back as Graft Probe Threatens Legacy of Growth NSN MYBBMF6K50Z9 <GO> BlackRock Buys Turkey Shares After Turmoil Spooks Markets NSN MYBIJ56S972D <GO> Top Stories:TOP<GO> *NOTE: Erdogan Fighting Back as Graft Probe Threatens Legacy of Growth

To contact the reporters on this story: Selcan Hacaoglu in Ankara at shacaoglu@bloomberg.net; Ercan Ersoy in Istanbul at eersoy@bloomberg.net

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net

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