Istanbul forex fraud investigation leads to 213 detentions

Turkish authorities have launched a major investigation into an international illegal forex fraud network operating through 40 call centers and 25 companies. The operation, coordinated by the Istanbul Chief Public Prosecutor's Office with support from the Ministry of Interior, the National Intelligence Organization (MIT), and Interpol, has led to the detention of 213 suspects.

Investigators report that the network targeted foreign investors with fraudulent Forex and cryptocurrency schemes, promising fictitious profits. The organization allegedly utilized a “ghost system” to avoid financial footprints, using cash to pay salaries and avoiding traditional banking channels. Evidence suggests the structure was managed by Israeli nationals, including Amıt Ygal, who is identified as the true owner of the Facto company despite official documentation listing different individuals.

As part of the crackdown, authorities seized assets valued at approximately 1.5 billion lira, including 80 vehicles and 12 properties, and placed blocks on various bank, crypto, and corporate accounts. Of the suspects processed, 133 have been referred to a criminal court with requests for arrest, while 56 face requests for judicial control.