Turkish Prosecutors Indict 504 Suspects in Alleged $850 Million Crypto-Linked Money Laundering Case

Turkish prosecutors have filed an indictment over an alleged crypto-linked money laundering network involving about $850 million. According to NS3.AI, the indictment names 504 suspects accused of moving funds through shell companies, bank accounts, foreign exchange offices, POS terminals, and cryptocurrency transactions. Prosecutors allege the network used a combination of traditional financial channels and crypto-related transfers to facilitate laundering activity. The indictment outlines the alleged use of corporate fronts and payment infrastructure, alongside cryptocurrency transactions, as part of the scheme.