New Details Emerge on Massive Fraud Ring in Turkey Involving Israelis
Translated & summarized from i24NEWS by baba
Turkish authorities arrested 201 individuals, including nine Israelis, in a large-scale operation against a fraud network suspected of stealing over $3 billion globally. The network, which relocated from Israel after a 2017 ban on binary options firms, used fake investment schemes and call centers.
The story in 5 lines · by baba
- Over 200 arrested in Turkey, including nine Israelis, in major fraud bust.
- Network allegedly stole over $3 billion through fake investment schemes.
- Relocated to Turkey after Israel banned binary options firms in 2017.
- Israeli embassy in Turkey remains closed due to security concerns.
- Israeli Foreign Ministry is monitoring the situation and protecting detainees' rights.
Turkish authorities have arrested 201 suspects, including nine Israelis, as part of a massive operation targeting a major fraud network believed to have defrauded victims worldwide of over $3 billion. The network operated through 42 call centers and 28 different companies, allegedly luring victims with fake investments in forex and cryptocurrency. When victims attempted to withdraw funds, they were reportedly asked for additional payments before contact was severed.
Among the prominent figures arrested is 42-year-old Israeli Yigal Amit, who also holds a Portuguese passport. Investigators suggest this is not the end of the investigation. The network's managers reportedly forbade employees from defrauding Israelis and Americans, speaking Hebrew amongst themselves, and bringing mobile phones into the office. The group relocated its operations to Turkey after Israel banned binary options companies in 2017.
Israeli officials were aware of the arrests prior to the official statement from the Ministry of Foreign Affairs on Saturday evening. The delay was reportedly due to concerns that Turkish President Recep Tayyip Erdoğan might exploit the situation for political gain. The arrests occurred shortly after the interim head of the Israeli Embassy in Turkey, Dr. Yoel Leon, submitted his credentials in Ankara. However, the embassy remains effectively closed due to security concerns and ongoing tensions between the two countries, managed only by local staff.
The Ministry of Foreign Affairs confirmed receiving reports of the arrests and stated it is handling the matter to ensure the rights of the detained Israelis are protected. The operation targeted a total of 248 suspects.
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