Turkish prosecutors have filed an indictment against a large money-laundering network linked to the Grand Bazaar, according to Hürriyet Daily News. The case involves nearly 40 billion Turkish lira, or about $850 million. The indictment names 504 suspects and accuses them of using shell companies, bank accounts, foreign exchange offices, POS terminals, and cryptocurrency transactions to conceal illicit proceeds. Prosecutors also allege that the suspects converted criminal funds into crypto and moved them abroad, while luring victims into fraudulent investment schemes with promises of high returns. In the filing, prosecutors are seeking up to 34.5 years in prison for alleged ringleader Türker Ak and up to 31 years for alleged network manager Murat Dönmezoğlu.
Turkish prosecutors have filed an indictment against a large money-laundering network linked to the Grand Bazaar, Hürriyet Daily News reported. The case involves nearly 40 billion Turkish lira, or about $850 million.
The indictment lists 504 suspects. Prosecutors accuse them of using shell companies, bank accounts, foreign exchange offices, POS terminals, and cryptocurrency transactions to hide illicit proceeds.
According to the report, the suspects also converted the funds into cryptocurrency and transferred them abroad. Prosecutors further allege that they lured victims into fraudulent investment schemes by promising high returns.
Prosecutors are seeking up to 34.5 years in prison for alleged ringleader Türker Ak and up to 31 years for alleged network manager Murat Dönmezoğlu.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
