Turkish prosecutors have indicted a criminal gang involved in $850 million cryptocurrency money laundering

Odaily Planet Daily News Turkish prosecutors have filed an indictment against a large-scale money laundering network linked to the "Grand Bazaar," with the amount involved reaching nearly 400 billion Turkish lira, approximately $850 million. The indictment lists 504 suspects, who are accused of using shell companies, bank accounts, foreign exchange offices, POS terminals, and cryptocurrency transactions to conceal illicit gains. The suspects are also accused of converting the illicit funds into cryptocurrencies and transferring them abroad, as well as luring victims into fraudulent investment schemes with promises of high returns. Prosecutors are seeking a maximum sentence of 34.5 years in prison for the alleged mastermind, Türker Ak, and a maximum of 31 years for Murat Dönmezoğlu, the alleged network manager.