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Turkish Prosecutors Indict Criminal Ring Involved in $850 Million Cryptocurrency Money Laundering Scheme
Svmuu News: Turkish prosecutors have filed charges against a large-scale money-laundering network linked to the “Grand Bazaar,” involving nearly 40 billion Turkish lira, equivalent to approximately $850 million. The indictment lists 504 suspects, who are accused of using shell companies, bank accounts, currency exchange offices, POS terminals, and cryptocurrency transactions to conceal illicit proceeds. The suspects are also accused of converting illicit funds into cryptocurrency and transferring them abroad, as well as luring victims into fraudulent investment schemes by promising high returns. Prosecutors are seeking a maximum sentence of 34.5 years in prison for the alleged mastermind, Türker Ak, and a maximum of 31 years for the alleged network manager, Murat Dönmezoğlu.
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