10.07.2026 14:01
The freedom of Papara's founder, Ahmed Faruk Karslı, who was released yesterday as part of the illegal betting and money laundering investigation, was short-lived. After the Istanbul Chief Public Prosecutor's Office objected to the release decision, Karslı was taken back into custody today. Karslı had been arrested after his company was seized by the TMSF (Savings Deposit Insurance Fund).
Ahmed Faruk Karslı, the owner of Papara who was arrested as part of an illegal betting and money laundering investigation led by the Istanbul Chief Public Prosecutor's Office, and whose company was seized by the Savings Deposit Insurance Fund (TMSF), was released yesterday.
The release decision, announced at a hearing held at the Istanbul 2nd Criminal Court of First Instance, caused widespread public reaction.
PROSECUTOR'S OFFICE OBJECTED
Following the release decision, the Istanbul Chief Public Prosecutor's Office objected. Upon the objection, Ahmed Faruk Karslı was taken back into custody today.
WHAT HAPPENED?
An investigation was launched against Papara Elektronik Para A.Ş. on allegations that it facilitated illegal betting money flow and mediated money transfers for illegal betting organizations. Within the scope of the investigation conducted by the Istanbul Chief Public Prosecutor's Office, 13 suspects, including Papara's owner Ahmet Faruk Karslı, were arrested on charges of "Violation of Law No. 7258", "Establishing an Organization for the Purpose of Committing a Crime", "Being a Member of an Established Organization", and "Laundering Assets Derived from Crime".
In the prepared indictment, it was stated that 12 billion TL of illegal betting money was transferred through Papara over two years.
The indictment noted that Karslı sent 120 million TL to his wife, mother, and sister, 450 million TL to his partner Ertuğrul Doğan, and 27 million TL to Asuman Şener. The indictment included statements from two secret witnesses. One secret witness, 'Ihlamur', said, "Papara manages the payment traffic of illegal betting sites," and 'Ladin' said, "Papara is the biggest money laundering system Turkey has ever seen. A former officer from the Cyber Crime department became a Papara manager after retirement."
''MONEY TRANSFERRED TO 274 BANK ACCOUNTS AND CRYPTO WALLETS''
According to the Central Bank audit report in the indictment, between 2021 and 2023, 26,012 Papara accounts were used on illegal betting sites. The transaction volume reached 12 billion TL, and the money was transferred to 274 bank accounts and 5 crypto wallets.
The indictment stated that Papara conducted a secret agreement process with illegal betting organizations, evaluating that "The Papara system was designed to work directly integrated with illegal betting sites."
The indictment indicated that Papara managers committed crimes of "illegal betting, establishing a criminal organization, and money laundering," seeking up to 28 years in prison for Karslı and four other managers, and up to 24 years for 20 individuals allegedly members of the organization.