Turkey Refers 211 Suspects to Court in Forex Fraud Ring Linked to Israel

Turkish prosecutors in Istanbul on Monday referred 211 individuals to the judiciary following their arrest in an investigation targeting an international fraud network involved in foreign exchange (Forex) trading, reportedly linked to Israel. The ongoing investigation into international Forex fraud is being overseen by the Turkish Interior Ministry and intelligence services, in coordination with the Istanbul Chief Public Prosecutor's Office, and with contributions from Interpol and cybercrime units.

As part of the security operation, authorities identified 25 companies, 40 call centers, and financial offices, in addition to the suspects managing these entities. Turkish security sources indicated that numerous Turkish and foreign nationals were employed at these call centers. Simultaneous raids on the call centers and financial offices led to the apprehension of the suspects by Turkish security teams.

Turkish authorities confiscated assets valued at approximately $30.9 million, along with 80 vehicles and 12 properties. Restrictions were also imposed on bank accounts, cryptocurrency assets, and company accounts. Among those arrested, nine hold Israeli citizenship, 11 are Pakistani, and 25 hold nationalities from Azerbaijan, Syria, Jordan, Ukraine, Thailand, Indonesia, Morocco, Kazakhstan, the Philippines, Iran, China, Lebanon, Palestine, Mexico, Egypt, Mozambique, Argentina, and Bangladesh.