Billions Laundered - and Turkey in Turmoil: Funds Allegedly Transferred to 'Israeli Networks'

Turkish authorities arrested 30 suspects in a money-laundering probe involving $2.1 billion, conducting raids on 123 locations across 17 provinces. Among those detained is Koris, leader of a religious-social organization. The investigation, in cooperation with the financial crimes authority, uncovered unusual capital movements since 2020. Reports suggest a possible link to Israeli financial networks.

Turkish authorities launched a sweeping raid operation against a network suspected of laundering approximately $2.1 billion. The operation, carried out simultaneously at 123 locations across 17 provinces, has so far resulted in the arrest of 30 suspects, including Koris, a well-known figure who headed a religious-social organization. The raids included luxury homes and corporate headquarters, with 80 of the addresses linked to 33 commercial companies that allegedly served as financial fronts for laundering the funds. The investigation, conducted in cooperation with Turkey's financial crimes investigation authority, lasted months. Analysts revealed that since 2020, shell companies have made unusual capital movements, including cash injections, real estate purchases, and foreign exchange transfers inconsistent with their declared commercial scale. The Ankara prosecutor's office clarified that the investigation focuses on the criminal and economic aspects, defining the network as a 'hierarchical, economy-focused criminal structure,' with no connection to religious or social affiliation. According to reports, a financial route linked to 'Israeli financial networks' is also being examined.