Turkey Arrests 191 in $3 Billion Forex and Crypto Investment Scam Linked to Israelis
Translated & summarized from Cursorinfo by baba
Turkish authorities arrested 191 people in a major operation against an international fraud scheme involving fake forex and crypto investments, which prosecutors allege was controlled by Israelis and defrauded victims of over $3 billion. The suspects lured investors with promises of high returns, then blocked withdrawals and demanded further payments.
The story in 5 lines · by baba
- Turkey arrested 191 individuals in a large fraud operation.
- The scheme involved fake forex and cryptocurrency investments.
- Israeli nationals are accused of controlling the fraud network.
- Victims allegedly lost over $3 billion over two years.
- Primary victims were from Malaysia, UAE, Russia, Singapore, UK, Canada, Australia.
Turkish authorities have arrested 191 individuals in a large-scale operation targeting an international fraud scheme involving fictitious investments in forex and cryptocurrencies, allegedly controlled by Israelis. The operation, which included searches at 286 locations in Istanbul and Mugla, resulted in the detention of 191 suspects out of 239 arrest warrants issued. According to the prosecutor's office, the network operated for at least two years, luring clients through online advertisements promising high returns. The scheme involved encouraging small initial investments, then pressuring clients to transfer more funds. When clients attempted to withdraw money, their accounts were blocked, and they were often asked for additional payments under the guise of taxes or lifting restrictions. The prosecution claims Israeli nationals organized the scheme, with call center employees forbidden from speaking Hebrew or using personal phones for security. Employees underwent polygraph tests to prevent leaks to law enforcement.
Investigators estimate that the scheme defrauded victims of over $3 billion over two years, with funds transferred to offshore accounts and cryptocurrency wallets. The primary victims were reportedly from Malaysia, the UAE, Russia, Singapore, the UK, Canada, and Australia, while Israelis and Americans were allegedly not targeted. Turkish authorities have also seized assets belonging to the suspects. This operation follows a previous incident in Istanbul where Turkish police uncovered a group producing counterfeit dollars, arresting individuals from Sweden, Ghana, Turkey, and one Israeli.
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