25.11.2025 09:46
The Istanbul Chief Public Prosecutor's Office for the Investigation of the Financing of Terrorism and Money Laundering has launched an investigation into Paybull Electronic Money and Payment Services Inc. and its company officials regarding the laundering of illegal betting revenues. As part of the operations carried out, 25 individuals were detained, and Paybull Inc. along with Lezzona Food Inc. were seized.
The Istanbul Chief Public Prosecutor's Office has launched a new operation by the Bureau for the Prevention of Financing of Terrorism and Money Laundering. An operation was initiated against Paybull, which provides electronic payment services, on charges of money laundering from illegal gambling revenues. The company was seized, and 25 suspects were detained.
In a statement from the Chief Public Prosecutor's Office, it was stated, "Simultaneous operations were carried out in Istanbul, Tekirdağ, Zonguldak, Ankara, İzmir, Balıkesir, Bitlis, Sinop, and Mersin provinces within the framework of actions identified in the TCMB audit and MASAK analysis reports." It was reported that 25 suspects were detained in the simultaneous raids.
COMPANY SEIZED
As part of the investigation, Paybull Inc. and Lezzona Food Inc. were seized by the decision of the Istanbul 9th Criminal Court of Peace.
ACTIVITY LICENSE CANCELLED
The Central Bank of the Republic of Turkey had revoked Paybull's activity license with a decision made in July. The TCMB's decision was published in the Official Gazette.
The decision included the following statements: "The licenses to operate as a payment and electronic money institution granted to Paybull Payment Services and Electronic Money Inc. based on the evaluations made within the framework of Articles 14, 15, 18, and 19 of the Law on Payment and Securities Settlement Systems, Payment Services and Electronic Money Institutions numbered 6493 dated 20/6/2013, were revoked in accordance with the provisions of the first paragraph (b) of Article 16 and the first paragraph of Article 19 of the Law by the TCMB Decisions numbered 10995/20594 dated 17/12/2020 and 11507/21106 dated 29/9/2023."