Crypto · updated 1h ago · 2 min read
Turkey Investigates Israel-Linked Investment Fraud Network After Detaining 191 People
Turkish authorities detained around 200 people linked to an Israel-connected international currency fraud network. The operation involved multiple nationalities and targeted forex and cryptocurrency scams.
Whether 'Israel-linked' framing is politically inflated.
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Ynetnews
“there is concern that the affair is being inflated, at least in part, for political reasons.”Read the original ↗
Türkiye Today
“it was determined that Israeli-linked individuals were predominant in the ownership and ultimate beneficiary structures”Read the original ↗
Ynetnews questions whether Turkey’s Israel-linked framing is politically inflated. Türkiye Today presents the Israel-link as a determined fact.
Turkey raids Israel-linked fraud
Turkish authorities announced they were investigating an alleged investment fraud network in Turkey that would have obtained more than 3.0 billion dollars from victims in different countries, according to the Istanbul Prosecutor's Office.
“more than 3.0 billion dollars from victims in different countries”
The operation carried out by security forces ended with 191 people detained and, according to the Prosecutor's Office, involved the Ministry of Interior, the Turkish National Intelligence Organization, Istanbul Police cybercrime units, and Interpol.
Roya News said Istanbul prosecutors announced that a group of ‘Israelis’ managed a sprawling international investment fraud network operating from Turkey that defrauded victims worldwide of more than $3 billion.
Roya News added that the scheme used call centers and fake forex and cryptocurrency platforms to lure investors with promises of high returns.
Detentions, call centers, crypto
Roya News reported coordinated raids on Friday across 286 addresses in Istanbul and the southwestern province of Muğla, targeting 28 to 29 companies operating 42 to 44 shell call centers.
The same report said the operation resulted in the detention of between 191 and 201 of roughly 239 to 248 suspects, and that among those detained were 45 foreign nationals from 20 countries, including nine ‘Israelis’.
Roya News said the network advertised on social media, search engines, and websites, promising lucrative forex and crypto returns, and that when victims tried to withdraw funds, accounts were “blocked” and extra payments demanded for taxes or unblocking fees.
Demócrata said the police operation in Istanbul resulted in the detention of 201 suspects, including eleven Pakistani nationals and nine Israelis, and that security forces seized assets attributed to the detainees valued at 1.5 billion Turkish lira (26.7 million euros).
Erdogan, foreign ministry, proceeds
After Turkey announced over the weekend that it had uncovered one of the largest financial fraud cases in the country’s history, President Recep Tayyip Erdogan launched a fierce attack on Israel Saturday night on X, writing: “We know which elements, foremost among them the 'Zionist massacre network', are disturbed by the ‘Terror-Free Turkey’ process.”
“We know which elements, foremost among them the 'Zionist massacre network'”
Ynetglobal said Erdogan added: “One by one, we will cut off the supply lines of the enemies of the people and the homeland, who feed off the terror industry.”
The Times of Israel reported that the Israeli Foreign Ministry said it was informed of the arrests on Friday and that it was “working to ensure that the rights of Israeli citizens are protected.”
Roya News said authorities estimated illicit proceeds exceeded $3 billion, while roughly 13 billion Turkish lira ($266 million) in transactions over two years covered office expenses and salaries, and that the money was never invested but transferred to overseas bank accounts and cryptocurrency wallets.