06.10.2025 10:56
In the operation targeting the Istanbul Gold Refinery, 21 people were detained, and new details about the investigation have emerged. It is alleged that gold was falsely represented as having been imported from abroad, melted down in refineries in Turkey, and then exported again under the guise of "processed gold." This method has reportedly caused the state a loss of exactly 12 million 537 thousand 560 dollars.
The Istanbul Chief Public Prosecutor's Office has issued detention orders for 23 individuals on the grounds that they caused public harm by fraudulently obtaining state support in the investigation it is conducting against Istanbul Gold Refinery Inc. and its affiliated companies.
21 PEOPLE DETAINED
This morning, raids were conducted at 24 addresses across Istanbul. So far, 21 individuals have been detained on charges of "establishing an organization for the purpose of committing a crime" and "qualified fraud."
STRIKING DETAILS IN THE INVESTIGATION
Journalist Emrullah Erdinc reported the details of the investigation into Istanbul Gold Refinery. New details have emerged in the case conducted by the Istanbul Chief Public Prosecutor's Office.
FRAUDULENTLY OBTAINED 3% SUPPORT
According to the investigation, it was determined that some companies fraudulently benefited from the 3% support provided by the Central Bank of the Republic of Turkey to exporting firms in foreign currency.
CAUSED MILLIONS OF DOLLARS IN DAMAGE TO THE STATE
It is alleged that gold was presented as if it had been imported from abroad and melted in refineries in Turkey. Later, it was falsely exported again as "processed gold" through chemical processes. A 3% state support was obtained through this fake export.
According to the prosecutor's findings, the state was harmed by a total of 12 million 537 thousand 560 dollars through this method. The investigation into the officials of Istanbul Gold Refinery Inc. and related companies is being deepened in connection with the incident.