Turkish prosecutors in Istanbul have expanded an ongoing gold smuggling investigation, launching coordinated raids on seven firms and issuing arrest warrants for seven people, including company owners.
Gendarmerie units carried out simultaneous operations at company headquarters and suspects’ addresses, including firms operating under the names ALEKS Metal / Aleks Precious Metals, AgaHolding and AgaBullion Precious Metals Inc.
Prosecutors allege that the companies were linked to an organized criminal group allegedly led by Erol Kurtulmuş.
The suspects are accused of operating outside legal quotas and regulations governing the trade of gold and precious metals.
Current investigations focus on charges of organized crime, anti-smuggling violations and aggravated fraud targeting public institutions.
The broader case began in October last year with operations targeting Istanbul Gold Refinery and affiliated companies.
Prosecutors claim the suspects fraudulently obtained a 3 percent state incentive granted under Türkiye’s export support scheme.
