28.07.2026 15:31
In the indictment prepared for 57 suspects, accused of providing infrastructure to illegal betting sites through the Malta-based crypto asset provider Paymix, prison sentences ranging from 6 to 39 years have been demanded. It was determined that crime proceeds were laundered by converting them into crypto assets, with a transaction volume reaching 210 billion lira. The alleged leader of the organization, Burak Başel, faces up to 39 years in prison on three different charges.
An indictment has been filed against 57 suspects, seeking prison sentences ranging from 6 to 39 years, on allegations that Malta-based crypto asset provider Fincrypto UAB (Paymix) provided financial and technical infrastructure to illegal betting sites through its payment institution.
CONNECTION TO CYPRIOT BUSINESSMAN IDENTIFIED
According to the indictment prepared by the Istanbul Chief Public Prosecutor's Office, it was reported that proceeds from illegal betting, gambling, and fraud crimes were transferred to the banking system through payment and electronic money institutions, then directed to crypto asset service providers and converted into crypto assets, thereby removing the income from the system.
The indictment stated that during investigations tracing crypto assets, a connection was identified between suspect Burak Başel, owner of Basel Holding in the Turkish Republic of Northern Cyprus (TRNC), and the Malta-based payment and electronic money institution Paymix.
MASAK REPORT IN THE INDICTMENT
The indictment included findings from MASAK's investigations that the laundered crypto assets were ultimately sent to wallets on the crypto asset exchange Kraken, based in the British Virgin Islands.
According to the MASAK report in the indictment, when individuals' banking transfer data was examined, it was noted that after high-value transactions from electronic money and payment institutions to bank accounts, these amounts were sent to crypto asset service providers. Some companies' accounts only received money from electronic money and payment institutions, and the money was transferred solely to crypto asset service providers without any transactions with third parties.
THEY LAUNDERED 11.4 BILLION LIRA IN 5 YEARS
The report stated that between January 1, 2020, and September 15, 2025, 11 billion 488 million 631 thousand lira entered individuals' accounts from electronic money and payment institutions, and between June 7, 2024, and September 15, 2025, 15 billion 43 million 754 thousand lira was transferred from their accounts to crypto asset service providers.
ILLEGAL BETTING REVENUES REACHED 210 BILLION LIRA
The indictment highlighted that technical examinations of forensic IT reviews, live system analyses, database queries, log records, financial data, and digital materials revealed numerous data from a total of 56 different illegal betting platforms operating on the Pentech digital infrastructure under investigation. Various datasets related to approximately 14 million registered bettors on these platforms were stored in the systems.
The indictment stated that in the examined databases, approximately 3 million people were registered with their Turkish ID numbers, and records of about 8 million phone numbers were also present in the systems.
When financial records, transaction logs, and accounting data were evaluated together, the indictment stated that the total transaction volume for illegal betting activities conducted through the digital infrastructure under investigation was approximately 210 billion lira. Within this scope, even the payment method records alone contained numerous IBAN details with a total transaction volume of about 10 billion lira.
800 VPN ACCOUNTS IDENTIFIED
According to technical analyses, the indictment mentioned that approximately 800 VPN accounts, believed to be used by employees and managers within the organization, were actively used for remote and secure access to various systems. In connection with this, over 600 remote desktop (RDP) devices were used by employees and managers in operational processes.
The indictment recorded that more than 500 physical and virtual servers were actively operated for conducting illegal betting activities, running applications, hosting databases, managing financial systems, and performing backup operations.
Additionally, the indictment stated that 60 different management panels were actively used for managing illegal betting activities, controlling user accounts, tracking financial transactions, managing dealer and sub-dealer organizations, and conducting reporting, risk analysis, and system management processes, thereby ensuring the continuity of operations.
FINDINGS ABOUT THE ORGANIZATION'S LEADER
The indictment stated that suspect Burak Başel is the founder of Basel Holding, headquartered in the TRNC with subsidiaries in Dubai, Malta, and Southern Cyprus, and is shown as the majority partner of the structure named "Pronet Gaming," which provides illegal betting infrastructure. He is also a shareholder of Universal Software Solutions NV, the license holder of two betting sites.
The indictment explained that 90% ownership of the Malta-based payment and electronic money institution Paymix (Finance Incorporated Limited) belongs to Başel through Doxxon Finance Limited, thus Başel holds ultimate control over the Paymix payment infrastructure.
The indictment indicated that suspect Burak Başel, considered to be at the top decision and coordination level of the organizational structure, playing a decisive role in the establishment of the structure, directing financial resources, and controlling the international payment and crypto asset system operated through Paymix and Fincrypto, is the organization's leader.
FINDINGS ABOUT THE ORGANIZATION MANAGER
The indictment recorded that suspect Ulaş Utku Bozdoğan, deemed to have played a role in the actual management and administration of technical, financial, and operational activities based in Turkey, Malta, and Albania, holds the position of organization manager.
The indictment stated that in the technical infrastructure section of the structure, there were individuals responsible for establishing and operating servers, software, databases, communication, and bonus systems for betting sites.
In the financial management section, the indictment stated that there were individuals responsible for accounting, reporting, invoicing, and distributing funds deemed to be proceeds of crime within the organization. In the crypto asset section, there were individuals responsible for converting funds into crypto assets, storing them in wallets, and transferring them between foreign company accounts.
It was recorded that in the cash-out section, there were individuals responsible for converting crypto assets into cash, foreign currency, or gold in exchange for commissions and physically delivering them. In the collection section, there were individuals responsible for collecting money from player accounts and distributing payments representing betting winnings.
REQUESTED PENALTIES
In the indictment, it was requested that organization leader Başel be punished for the crimes of "laundering assets derived from crime," "establishing and managing an organization for the purpose of committing crimes," and "violation of the Law on Regulating Betting and Games of Chance in Football and Other Sports Competitions," with sentences ranging from 16 and a half years to 39 years, along with all other charges against the suspects.
The organization leader, suspect Bozdoğan, is requested to be sentenced to between 14.5 years and 37 years in prison for charges of "laundering criminal proceeds", "violating the Law on the Regulation of Betting and Games of Chance in Football and Other Sports Competitions", and "managing an organization established for the purpose of committing crimes".
The other 55 suspects are expected to be sentenced to varying prison terms ranging from 6 to 22 years.
The indictment also included information that a separation decision was made for some suspects and that the investigation continues for these individuals.