Breaking News: 100 billion TL gold operation in Istanbul! Many detained
It has been reported that an operation targeting an organized group that manipulated foreign exchange incentives to conduct illicit gold and silver trade through shell companies has uncovered approximately 100 billion TL in public losses, with 21 out of 23 suspects detained.
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The Istanbul Chief Public Prosecutor's Office has launched a comprehensive investigation into an organized structure identified as abusing the foreign exchange incentive mechanism and conducting illegal activities in gold and silver trade through shell companies.
100 BILLION TL PUBLIC LOSS
Within the scope of the investigation, it was revealed that tons of gold and silver were imported under the Inward Processing Regime between 2023 and 2024, but a significant portion of the products were not exported as required by the regulations.
Examinations determined that brass or imitation products were substituted for the declared gold plates, transactions were concealed with forged documents, and this method caused approximately 100 billion TL in public losses.
21 DETAINED IN OPERATION
In the simultaneous operation carried out on November 18, 2025, it was stated that 21 of the 23 individuals against whom proceedings were initiated were apprehended, while 2 suspects remain at large.
It was stated that the suspects are being investigated for the crimes of Establishing an Organization for the Purpose of Committing Crimes, Qualified Fraud, Opposition to the CBRT Law, Opposition to the Financing Law, and violating the Law on the Protection of the Value of Turkish Currency.
STATEMENT FROM THE CHIEF PUBLIC PROSECUTOR'S OFFICE
The following statements were included in the statement made by the Chief Public Prosecutor's Office:
Within the scope of the investigation conducted by the Organized Crime Investigation Bureau of our Chief Public Prosecutor's Office;
It has been understood that an organized group abused foreign exchange incentives in violation of regulations, and conducted quota and non-regulatory transactions in gold and precious metal trade by establishing new companies through second and third parties,
Although tons of gold and silver were imported by the companies where the suspects are officials and related companies between 09.01.2023 and 10.12.2024 within the scope of the "Inward Processing Regime", a large part of the imported gold and silver was not taken abroad in violation of the regime provisions,
The company officials, who carried out illegal acts in an organized manner, used forged and misleading documents in import and export transactions, delivered some goods declared as gold plates by replacing them with brass plates or imitation gold, thereby obtaining unfair gain and causing approximately 100 billion TL in public losses at the current gold exchange rate.
In light of the evidence obtained, simultaneous detention, search, apprehension, and seizure instructions were issued on November 18, 2025, for a total of 23 suspects regarding the criminal organization in question for the crimes of Establishing an Organization for the Purpose of Committing Crimes, Being a Member of a Criminal Organization, Qualified Fraud to the Detriment of Public Institutions and Organizations, Opposition to the Law No. 1211 on the CBRT and its Communiqués, Opposition to the Law No. 4749 on the Regulation of Public Finance and Debt Management, and Opposition to the Law No. 1567 on the Protection of the Value of Turkish Currency.
In this context, 21 suspects have been detained, and search and apprehension procedures are ongoing for 2 suspects.