Key facts
- Turkish security forces busted an Israel-linked fraudulent trading network accused of defrauding victims of at least $266 million.
- The network allegedly operated for two years, targeting individuals in Europe, the Far East, and Africa.
- The investigation involved 42 call centers run by 28 companies and led to the arrest of 239 suspects.
- Turkish Justice Minister Akin Gurlek stated that individuals with links to Israel were the principal owners and beneficiaries of the companies.
- Raids were conducted at 236 addresses in Istanbul and Mugla.
- The operation is linked to the international criminal network known as 'Scam Empire'.
Turkish security forces have dismantled an alleged Israel-linked fraudulent trading network that defrauded individuals across Europe, the Far East, and Africa of at least $266 million over the past two years, according to Turkish Justice Minister Akin Gurlek.
Gurlek stated that the investigation targeted 42 call centers operated by 28 companies and involved 239 suspects. He added that individuals with links to Israel were identified as the principal owners and ultimate beneficiaries of the companies involved in the organized fraud network.
Raids were conducted at 236 addresses in Istanbul and Mugla in coordination with Turkey's National Intelligence Organization (MIT) and Interpol. Turkish officials linked the operation to the international criminal network known as 'Scam Empire,' which has operated globally for a decade.
The Organized Crime and Corruption Reporting Project (OCCRP) had previously exposed similar groups operating from Israel and Europe, which defrauded hundreds of victims through telephone investment scams, with individual losses ranging from $10,000 to hundreds of thousands of dollars. The network reportedly used customer service representatives speaking various languages to recruit victims, showing them fabricated profits on investment platforms to encourage further investment. Funds were then transferred to overseas bank accounts and cryptocurrency wallets.
Turkish officials identified one alleged mastermind by the initials YA, an Israeli national also holding a Portuguese passport. The report also referenced a 2016 Reuters article about an Israeli trading company, NRGbinary, which was banned by Israel after defrauding European investors, and a 2025 OCCRP investigation into call centers in Israel, Eastern Europe, and Georgia that allegedly defrauded over 32,000 people of at least $275 million.
Officials familiar with the investigation suggested that some Israel-based networks may have moved operations to Turkey to avoid detection amid tensions between the two countries. These networks typically establish shell companies as call centers, recruit multilingual staff, and train them to use false identities and forged documents, including fabricated backgrounds to impress victims. Employees were reportedly prohibited from speaking Hebrew in the office, and Israeli citizens were reportedly not targeted.