10-24-2022 icon

Turkey Confiscate $40M Worth of Digital Coin, Apprehends 46 Suspects Over Betting Investigation

By Lucy Adegbe

Legislators in Turkey have confiscate $40 million in digital currency and arrests 48 suspects, The Daily Sabah briefs in a Wednesday news. 

The confiscation and arrest is linked to the ongoing illegal gambling questioning in about eight regional locations of Turkey. 

Betting activities in the Turkish region has been under tough regulation with Casino operation being prohibited since 1998 and internet gambling being outlawed in 2006.

Detained suspects had allegedly facilitated the illicit betting activities in the various regions by attempting to launder funds. Some of these illicit funds were being paid into the digital currency account of an unlawful corporation connected to Halil Falyali and wife. 

“A net amount of $134.5 million worth of cryptocurrency was transferred to the cryptocurrency accounts of a group of 11 people, including Falyali and his wife.”

The casino operation expert Halil Falyali was killed during an armed raid that happened close to his home in Kyrenia, Cyprus on February 8. M. Faysal Soylemez  and Mustafa Soylemez, among the five people arrested over Falyali’s murder, were sentenced to life imprisonment, as reported by the Daily Sabah on February 22.

According to the additional details of the news, “around $40 million worth of crypto assets, which were detected to be transferred to crypto asset exchanges in the country and abroad, were seized.”