Turkey Cracks Down on $2.1 Billion Money Laundering Network Linked to Israeli Financial Channels

Turkish authorities launched a large-scale operation targeting a criminal network suspected of laundering approximately $2.1 billion. The crackdown involved simultaneous raids on 123 locations across 17 provinces, including Ankara, Istanbul, and Antalya. So far, 30 suspects have been arrested, including the group's leader, Koris, previously known as a religious-social community figure.

The investigation revealed that 33 commercial companies served as financial fronts for the illicit activities, with unusual capital movements, massive cash injections, real estate purchases, and foreign currency transfers inconsistent with their declared business scope since 2020. The probe, conducted in cooperation with Turkey's financial crimes investigation authority, has identified a money trail allegedly connected to Israeli financial networks.

Despite Koris's background as a community leader, prosecutors emphasized the inquiry focuses solely on the criminal and economic aspects of the network, described in the emerging indictment as a "hierarchical economic criminal structure," without any religious or social affiliations. The operation included arrests of 49 senior suspects and raids on luxury homes and corporate headquarters. The case has stirred significant attention amid ongoing Turkey-Israel relations.