Multimillion-euro fraud with virtual investments in Turkey – How a company in Limassol is involved

Turkish authorities have dismantled an international investment fraud ring involving 239 suspects, resulting in 175 arrests across Istanbul and Mugla. The criminal network allegedly scammed victims globally out of 200 million euros over two years by promising high returns on forex and cryptocurrency investments. The investigation has linked the operation to a company registered in Limassol, Cyprus, as one of the primary suspects reportedly serves as its director and utilized European bank accounts to facilitate money laundering.