Turkish authorities have seized cryptocurrency assets worth 460 million euros ($550 million) from a gambling suspect as part of an investigation into illegal betting and money laundering, local media reported on Jan. 30.
The probe was launched by the Küçükçekmece Chief Public Prosecutor’s Office following allegations of money laundering linked to media channel Ekol TV, based on statements from a confidential witness and incoming tips.
The main suspect is Veysel Şahin, widely known to the public as an illegal betting baron. Şahin, who was imprisoned until 2023, is known to have fled abroad after his release. He is alleged to have controlled an illegal betting network worth billions of euros.
Within the scope of the investigation, authorities ordered the ex officio seizure of assets believed to have been obtained through criminal activity in order to prevent their laundering.
These measures include the confiscation of Şahin’s movable and immovable property, company shares and partnership stakes, deposits and investment accounts held at banks and financial institutions, as well as assets held on cryptocurrency platforms and exchanges.
As part of the ongoing investigation, cryptocurrency assets belonging to Şahin and valued at 460 million euros were frozen by the global company where the account is held.
Şahin first came to public attention in 2017, when security forces carried out an operation codenamed “Handicap” against his network.
He was apprehended while returning to Türkiye on a private jet to seek medical treatment for his father. Şahin was subsequently arrested by court order.
Extradition proceedings to return Şahin to Türkiye are currently underway, the media said.
