Turkish Authorities Dismantle International Forex and Crypto Fraud Network

Turkish authorities have cracked down on an international fraud network that targeted foreign investors through forex and cryptocurrency schemes. In a coordinated operation, police detained 175 of 239 suspects wanted in connection with the investigation.

The Justice Minister, Akın Gürlek, announced the arrests, which were carried out at 286 locations in Istanbul and Muğla. The network, which operated under the guise of call centers, attracted foreign nationals with promises of high investment returns.

Victims were shown fabricated profits on investment platforms controlled by the suspects, only to be asked for additional payments supposedly for account unblocking, taxes, or other reasons.