Turkish Crypto Exchange Owner Arrested on Money Laundering Charges
Kemal Cenk Erdem, owner of Turkish cryptocurrency exchange Bitexen, has been arrested by the Istanbul Chief Public Prosecutor's Office on charges of concealing the illegitimate source of assets derived from crime.
The arrest warrant was issued after an investigation found financial connections and money transfers between companies linked to Erdem. The court ruling stated that Erdem was not listed as a direct shareholder, board member, or authorized representative in Dinamik Elektronik Para ve Ödeme Hizmetleri A.Ş., but he has partnerships with Bitexen Kripto Varlık Alım Satım Platformu A.Ş., Evenpal Teknoloji A.Ş., and KCE Finansal Teknoloji Yatırımları A.Ş.
The court found strong indications of guilt against Erdem, citing evidence of financial transactions linked to Bitexen and Erdem totaling nearly 100 million Turkish Lira between Ayşin Erdem and Kemal Cenk Erdem. The court ruled that a detailed investigation into Erdem for facilitating the transfer of money believed to be connected to illegal gambling and money laundering offenses was warranted.