Rumors of trustee appointment to main opposition CHP spark political uproar, market volatility

Rumors circulating on Turkish social media Wednesday evening regarding the potential appointment of a trustee to the main opposition Republican People’s Party (CHP) ignited political debates and caused brief market volatility.

The allegations about the trustee appointment sparked confusion and fueled political discussions, leading to fluctuations in the stock market. The situation escalated after controversial comments by journalist Rasim Ozan Kutahyali, prompting the judiciary to intervene and launch an investigation into his statements. Both the Justice Minister and Kutahyali issued responses as tensions mounted.

Brief market volatility amid rumors

Kutahyali’s claim that CHP’s upcoming congress would be canceled and a trustee appointed to the party quickly gained traction, sending ripples through the public and triggering a sudden drop in the Istanbul Stock Exchange.

As the market plunged, investors responded by selling stocks in a panic, causing further instability. Following the denial of the allegations, a significant portion of the losses in VIOP was recovered, and BIST 30 contracts ended the evening session down 1.07%.

Meanwhile, CHP called for all its members of parliament to convene at the party headquarters Thursday morning, heightening speculation about developments in Ankara.

As social media rumors about a trustee appointment continued to spread, both CHP and the Directorate of Communications released statements addressing the situation.

Official sources clarified that no action had been taken to appoint a trustee to the CHP, labeling the allegations as baseless. Judicial and security authorities confirmed that an investigation had been initiated into the misinformation circulating online.

‘Allegations are unfounded’

The Presidential Communications Directorate’s Disinformation Combat Center (DMM) described the claims about the cancellation of CHP’s 38th Congress and the trustee appointment as part of a coordinated manipulation effort.

In a statement, CHP asserted, “The allegations about a trustee appointment to our party are unfounded. We have called for a meeting at our headquarters at 10:00 a.m. for our signature campaign. Do not trust anything said or written outside of our official statements.”

Justice Minister Yilmaz Tunc also addressed the circulating social media posts about the trustee appointment and operations in certain municipalities. He emphasized that the legal processes surrounding complaints filed by CHP delegates, the judicial investigation, and the case to cancel the congress had been distorted, misleading the public.

Tunc condemned the baseless claims as disinformation and announced that an investigation was underway for “publicly spreading misleading information.”

Bazı sosyal medya hesaplarından paylaşılan, "CHP'nin 38. Kurultayı iptal ediliyor, CHP'ye kayyum atanıyor" şeklindeki iddialar manipülasyondur.

Siyasi Partiler Kanunu'nun 112. maddesi ve ilgili diğer mevzuat hükümlerine göre yürütülen yargı süreci devam etmektedir.

Henüz… pic.twitter.com/VcCcuRV8Hj

— Dezenformasyonla Mücadele Merkezi (@dmmiletisim) April 16, 2025

Additionally, the Ankara Chief Public Prosecutor’s Office announced it had launched an official investigation into Kutahyali for making false statements.

Kutahyali, whose claims about a trustee appointment sparked widespread attention, later issued a statement acknowledging his error. “CHP General Chairman Ozgur Ozel, as well as the entire CHP leadership, should rest assured. The congress is not being canceled, and a trustee is not being appointed. I am very happy that my prediction turned out to be wrong,” Kutahyali said.

He added that the matter was a legal issue and expressed hope that April 17, 2025, would “be beneficial for the country.”