Trustee appointed to Papel

An investigation conducted by the Istanbul Chief Public Prosecutor's Office has revealed that funds obtained through illegal betting and fraud activities were being laundered via electronic money infrastructure.

The investigation launched into Papel Elektronik Para ve Ödeme Hizmetleri AŞ is based on reports from the Central Bank of the Republic of Turkey (TCMB) and the Financial Crimes Investigation Board (MASAK).

TRACES OF ILLEGAL ACTIVITIES FOUND

The investigation determined that income obtained through illegal betting, fraud, and illegal forex transactions was being introduced into the system and laundered through various companies. It was determined that software engineers, information technology employees, and project managers of the company carrying out these transactions actively participated in this process. It was noted that these individuals played a significant role in the transfer and concealment of proceeds of crime.

SIMULTANEOUS OPERATIONS CONDUCTED

In the operation launched from Istanbul, teams from the Financial Crimes Investigation Branch conducted simultaneous operations in the provinces of Ankara, Antalya, Balıkesir, Muğla, Tokat, Kocaeli, and Bursa. Detention warrants were issued for 41 people, and searches and seizures were carried out at numerous addresses.

TMSF APPOINTED AS TRUSTEE, ASSETS SEIZED

Within the scope of the investigation, the Savings Deposit Insurance Fund (TMSF) was appointed as a trustee to the electronic money company Papel. The assets of the suspects were also seized.

News Source: 12punto