Kuyumcukent gold fraud investigation targets 35 suspects

Authorities in Turkey have launched an investigation into a major fraud scheme at Kuyumcukent involving the theft of 64 kilograms of pure gold. The Bakırköy Chief Public Prosecutor's Office is investigating 35 suspects for organized crime, qualified fraud, and money laundering.

According to investigators, the suspects used businesses established in the names of third parties to deceive 16 jewelry firms. The group allegedly collected various jewelry items, such as bracelets, necklaces, and wedding rings, under the pretext of selling them in Anatolia. Instead of selling the items, the suspects reportedly sent them to workshops to be melted down into pure gold.

The group allegedly built trust by making partial payments for initial orders, which allowed them to increase the volume of products received. Once the debt reached a significant level, the suspects informed the victims that their businesses had gone bankrupt and ceased all payments.

Simultaneous operations were conducted across Istanbul, Ankara, and Kocaeli. Law enforcement has issued detention orders for 35 individuals and has seized 18 vehicles and 13 real estate properties as part of the investigation.