Turkish Authorities Smash International Forex and Crypto Fraud Ring
Turkish authorities have cracked down on an international fraud network accused of swindling foreign investors through fake forex and cryptocurrency investment schemes.
The operation, which targeted 239 suspects across 286 addresses in Istanbul and Mugla, resulted in the detention of 175 people, according to Justice Minister Akin Gurlek.
The investigation covers four cases opened by the Istanbul Chief Public Prosecutor's Office during 2026 and focuses on companies that allegedly operated call centers and promoted investment opportunities through social media and online advertisements.
Gurlek said individuals linked to Israel were predominant in the ownership and ultimate beneficiary structures of the companies involved, but emphasized that this does not imply involvement by the Israeli government or state institutions.