Usury operation against Q Bank: 4 detained

An operation was conducted against Q Bank in Istanbul. Four executives determined to have engaged in usury in violation of banking regulations were detained.

Teams from the Istanbul Police Department's Financial Crimes Investigation Branch examined the bank's activities as part of efforts coordinated by the Istanbul Chief Public Prosecutor's Office. Findings indicated that transactions were carried out using usury methods by applying high interest rates and commissions.

The investigation also determined that high additional commissions were demanded from individuals using credit for early repayment transactions, and that unfair profit was generated through this method.

In line with the findings obtained, a simultaneous operation was carried out in the morning hours. During the operation, 4 individuals in executive positions were apprehended and detained.

While it was learned that Q Bank had previously been subject to operations for similar reasons, it was reported that the investigation into the incident is continuing.

News Source: 12punto