Multi-province Forex Fraud Operation Leads to Arrest of Economy Commentator

November 29, 2023

0 1 minute read

Forex Fraud Operation Exposed in 9 Provinces; Economic Commentator Ece Pulaş Arrested

A major crackdown on forex fraud has resulted in the arrest of 25 suspects in 9 different provinces, including Istanbul. Among those arrested are Yavuz Usta, the owner of a cryptocurrency company, and Ece Pulaş, a well-known economic commentator who served as the advertising face of the company.

The operation, coordinated by the Büyükçekmece Chief Public Prosecutor’s Office and carried out by the Cyber Crimes Branch Directorate teams, followed approximately 5 months of technical and physical pursuit of the suspects. This led to the identification of 30 suspects, out of which 25 were apprehended during the simultaneous operations in Istanbul, Kocaeli, Siirt, Erzincan, Muğla, Ankara, Nevşehir, Çanakkale, and Antalya.

During the searches, a large number of documents and digital materials belonging to shell companies were seized, along with 319,445 liras, 22,400 dollars, and 380 Euros in cash. The suspects had allegedly operated shell companies for forex, which were actively promoted on television and social media. Ece Pulaş, in her capacity as an economic commentator, played a significant role in promoting the forex company through her social media accounts.

The investigation also revealed that the victims were scammed twice, as they were manipulated by the company to reset their money and reinvest. This led to significant financial losses for the investors.

Following the completion of their police procedures, 25 suspects were sent to the courthouse, resulting in the arrest of 11 individuals, including Yavuz Usta and Ece Pulaş. Judicial control measures were imposed on 10 people, while four individuals were released.

This high-profile operation has exposed the fraudulent practices of the forex company and has led to the arrest of several key individuals involved in the scheme. The investigation is ongoing, as authorities work to bring those responsible to justice.