Assets had been seized: Papara owner Ahmed Faruk Karslı arrested

As part of an illegal betting investigation launched by the Istanbul Chief Public Prosecutor's Office, 10 people, including Ahmed Faruk Karslı, the owner of Papara Elektronik Para AŞ, have been arrested. It is alleged that the company, which provides electronic money services, acted as an intermediary for money transfers linked to illegal betting and gambling sites.

The investigation is being conducted on charges of "establishing an organization for the purpose of committing crimes," "membership in an organization," "laundering assets derived from crime," and "violation of Law No. 7258 (betting and games of chance)."

Of the 15 suspects detained, 11 were referred to the criminal judgeship of peace with a request for arrest following prosecution procedures. The court ordered the arrest of 10 people, including company owner Ahmed Faruk Karslı. The other 4 suspects were released under judicial control conditions.

PAPARA'S ROLE IN ILLEGAL BETTING MONEY FLOW

In a statement by the Istanbul Chief Public Prosecutor's Office, it was noted that Papara has been operating as an electronic money institution since 2016. However, it was stated that this system was used for the purpose of transferring money to illegal betting and gambling sites in connection with crypto exchanges.

According to the report, it was stated that during financial transactions conducted through Papara, the company knowingly delayed necessary checks to ensure the transfer of betting funds was not interrupted, and generated significant revenue during this process.

TENS OF THOUSANDS OF ACCOUNTS, HUNDREDS OF BANK TRANSFERS

Financial analyses conducted within the scope of the investigation determined that 102 of the 26,012 accounts opened through Papara were used directly on illegal betting and gambling sites. It was determined that large amounts of money were transferred through these accounts.

It was revealed that the funds in question were transferred to 274 different bank accounts and then directed to 16 different crypto wallet addresses in an attempt to launder the proceeds of crime. The report also included that 5 separate crypto wallet owners were in direct cooperation with illegal betting organization leaders.

MASAK WARNINGS

Detailed reports prepared by the Central Bank of the Republic of Turkey (TCMB), MASAK, and other institutions were also included in the investigation file. These reports emphasized that Papara was systematically used in illegal betting transactions and therefore posed a serious threat in terms of payment systems.

ASSETS SEIZED, TRUSTEE APPOINTED TO THE COMPANY

The prosecutor's office, determining that Papara generated income from crime by acting as an intermediary for illegal financing activities, decided to seize the company's assets and appoint a trustee to its management.

News Source: 12punto