Turkish prosecutors have indicted a criminal group involved in an $850 million cryptocurrency money laundering operation

Odaily Planet Daily News Turkish prosecutors have filed an indictment against a large-scale money laundering network involving the "Grand Bazaar," with the amount in question 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 proceeds. The suspects are also accused of converting the illicit funds into cryptocurrency 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 up to 34.5 years in prison for the alleged mastermind, Türker Ak, and up to 31 years for the alleged network manager, Murat Dönmezoğlu.