Turkish Authorities Detain 175 in Massive Forex and Crypto Scam Operation

Turkish authorities have detained 175 people in connection with an alleged international fraud network that targeted foreign investors through fake forex and cryptocurrency investment schemes.

The investigation, led by Justice Minister Akin Gurlek, involved coordinated raids across Istanbul and Mugla, targeting 239 suspects at 286 addresses, including 42 call centers linked to 28 companies.

Gurlek stated that individuals were accused of operating call centers and promoting investment opportunities through social media and online advertisements, allegedly swindling investors out of $266 million.