Kuyumcukent gold fraud and diamond smuggling investigation

Authorities in Turkey have uncovered a large-scale organized crime network operating through the Kuyumcukent jewelry district in Istanbul. The investigation initially focused on a fraud scheme where 35 suspects allegedly defrauded 16 jewelry firms of 64 kilograms of pure gold. The group reportedly used third-party businesses to collect jewelry under the guise of selling items in Anatolia, only to melt the products down into pure gold after building trust through partial payments.

Subsequent findings expanded the scope of the investigation to an international smuggling ring. The network is linked to a 1.7 billion lira diamond smuggling operation spanning India, Hong Kong, Dubai, and Turkey. Investigators identified jewelry designer Habib Kocabaşoğlu as a key figure and linked the operation to an Iranian national known as ‘The Big Boss’, Hadi Gulroozi.

The smuggling method involved using shell companies in Dubai to issue fake international certificates for low-cost raw diamonds. To bypass airport security, diamonds were reportedly concealed in shampoo bottles, snack bags, and earphone cases. The group utilized WhatsApp groups for marketing and a unique verification system involving the serial numbers of 5 TL banknotes to confirm identities during high-value transactions.