'Money laundering' operation in the Grand Bazaar: 37 suspects detained
An operation was carried out following allegations that money was being laundered in the Grand Bazaar through the establishment of shell companies. 37 suspects have been detained.
In an operation conducted across 12 provinces centered in Istanbul, 37 suspects were detained in connection with "qualified fraud" and "money laundering."
Teams from the Istanbul Police Department's Financial Crimes Investigation Branch, under the coordination of the Istanbul Chief Public Prosecutor's Office, carried out an investigation aimed at preventing the crime of "laundering assets derived from crime" and apprehending the suspects.
The teams determined that 8 main companies operating under the same roof in the Grand Bazaar for the purchase and sale of precious metals and foreign currency were integrating criminal proceeds—obtained particularly by criminal organizations through qualified fraud and virtual gambling—into the banking system via 93 shell companies.
Police, who uncovered that "dirty money" was being laundered in this way and that 9 billion liras of illegal funds had entered circulation, launched simultaneous operations in 12 provinces centered in Istanbul following technical and physical surveillance.
During the operation, 37 suspects, including F.Ö., the Vice Chairman of the Grand Bazaar Board of Directors, were detained.
News Source: 12punto
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