Turkish authorities have detained 248 people in an investigation into an alleged international fraud network targeting victims with promises of high returns from foreign exchange and cryptocurrency investments, including two Moroccan nationals, officials said.
The operation was carried out jointly by Turkey’s intelligence service and Istanbul police under the supervision of the public prosecutor’s office.
According to Turkish media reports, the suspects include 45 foreign nationals from countries across Europe, Asia, Africa and South America. Among them were two Moroccans, 11 Pakistanis and nine Israelis, as well as nationals of Palestine, Jordan, Ukraine, Indonesia, Egypt and Bangladesh.
Turkish authorities said the network allegedly operated through companies presented as call centers and used social media and online advertisements to promote investment opportunities in foreign exchange and cryptocurrencies.
Justice Minister Akin Gürlek said four separate investigations conducted by the Istanbul Public Prosecutor’s Office in 2026 had uncovered companies allegedly defrauding foreign nationals through promises of high investment returns.
He said financial crime investigators from MASAK, along with police units, analyzed hundreds of complaints submitted by victims through Interpol.
According to Gürlek, the investigation found that individuals with links to Israel were allegedly involved in the operation and uncovered a fraud organization targeting victims in several countries across Europe, the Middle East and Africa.
Turkish authorities said the network’s transactions totaled nearly 13 billion Turkish liras over a two-year period.
The coordinated operation targeted 286 addresses across Istanbul, including 28 companies and 42 call centers, according to the justice minister.
Authorities seized assets worth about 1.5 billion liras, or more than $30 million, including 80 vehicles and 12 properties allegedly used by members of the network as call centers or headquarters.
Police were continuing to search for other people suspected of involvement in the network’s activities.
Gürlek said Turkey would continue pursuing organized criminal groups that use technology and the international financial system to defraud people of their savings through false investment promises.
The allegations remain subject to the ongoing investigation and judicial proceedings.
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