☠️ Turkey🇹🇷: prosecutors seek prison terms of 6 to 39 years over alleged support for an offshore gambling network

☠️ Turkey🇹🇷: prosecutors seek prison terms of 6 to 39 years over alleged support for an offshore gambling network

Authorities uncovered a cross-border network operating across Turkey, Northern Cyprus🇨🇾, Malta🇲🇹, Albania🇦🇱, and Dubai🇦🇪. A key entity in the investigation is Fincrypto UAB (Paymix), a company based in Malta that allegedly provided payment processing services using cryptocurrency infrastructure.

➡️ The prosecution has filed charges against 57 suspects, who face allegations of establishing a criminal organization, money laundering, and facilitating illegal gambling activities. Prosecutors are seeking prison sentences ranging from 6 to 39 years.

➡️ According to investigators, the network operated through 56 illegal sports betting platforms with approximately 14 million registered accounts. Authorities seized a large-scale technological infrastructure, including around 500 physical and virtual servers, 800 VPN accounts, 600 remote access devices, and multiple systems used to manage betting operations and payment processing activities.

➡️ Law enforcement estimates that the organization handled approximately €4.5 billion in betting transactions. Cryptocurrencies were allegedly used systematically to transfer funds to overseas digital wallets.

➡️ The investigation was conducted by the Istanbul Chief Public Prosecutor's Office, with support from Turkey's Financial Crimes Investigation Board (MASAK). Since February, MASAK has assumed an expanded supervisory role over financial activities in high-risk sectors, including gambling, lending, and insurance.

➡️ Context: MASAK has identified Malta, Cyprus, Armenia🇦🇲, North Macedonia🇲🇰, and Georgia🇬🇪 as jurisdictions requiring enhanced scrutiny, noting that payment channels connected to these markets are frequently used in schemes targeting Turkish consumers.

#news #Turkey #Asia #Europe #crypto #gambling

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