Former owner of Papara arrested for the second time

Ahmed Faruk Karslı, founder of Papara, one of Turkey's leading digital wallet services, was arrested and spent a long time in prison after being detained on May 27, 2025, as part of an illegal betting operation. Due to allegations that Papara was used for illegal betting transactions, the company was seized by the Savings Deposit Insurance Fund (TMSF), and Karslı along with several other executives were arrested.

While Karslı's release was on the agenda following a discharge decision yesterday after more than a year in prison, the Istanbul Chief Public Prosecutor's Office objected to the release.

Evaluating the objection, the Istanbul 11th High Criminal Court issued a new arrest warrant for Karslı. Following the decision, which was swiftly executed by police teams, Karslı was arrested again and sent to prison.

Following its seizure, Papara was sold to Türkiye Emlak Katılım Bankası for approximately 100 million dollars in a tender held by the TMSF in April. While the processes regarding the transfer of the company are still being monitored, the latest developments regarding the judicial process of the illegal betting allegations continue to be closely watched.