Turkey seizes assets belonging to suspected illegal betting ringleader

• Court in Turkey ordered the seizure of assets belonging to a suspected "illegal betting kingpin"
• Veysel Sahin has been under investigation for years and now the authorities have seized his assets
• An order also seeks his extradition to Turkey but his whereabouts remain unknown

Assets belonging to one man, suspected of money laundering and illegal gambling in Turkey, were seized recently.

While prosecutors seized the assets, no solid figure of their total value was confirmed, but estimates put it the realm of hundreds of millions of dollars.

Court orders asset seizure, suspect still at large

The legal action affects Veysel Sahin, a man described as "illegal betting kingpin" in a report released by the local media outlet, Turkish Minute.

The suspect is facing scrutiny since charges and conviction from 2023 on alleged violations of the gambling-related laws in Turkey, as well as accusations of money laundering and operating a criminal organization.

At the time, Sahin was sentenced to more than 21 years in prison, along with a fine, but remained free after filing an appeal.

Unsurprisingly, the suspect then fled the country and has been missing since.

Now, the latest development saw the Istanbul Chief Public Prosecutor's Office confirm an order for the seizure of all of Sahin's assets.

The court's decision affects all of the suspect's movable and immovable assets, including property, deposits, bank accounts, investment accounts and even cryptocurrency assets.

There is no confirmation from the Istanbul Chief Public Prosecutor's Office about the total estimated value of the seized assets.

However, it is highly likely that those are significant, considering that the cryptocurrency assets alone were valued at €460m ($542.4m).

An investigation into the suspected illegal betting kingpin seeks to determine Sahin's involvement in an elaborate, large-scale illegal gambling operation and supporting structures.

Considering the possibility of concealing assets obtained through ill-gained funds, the court ordered the recent assets seizure.

At the time of writing, Sahin wasn't detained and his whereabouts remain unknown.

Still, authorities in Turkey are seeking his extradition and that process is already greenlighted.

Recently, Turkey's President, Recep Tayyip Erdogan, warned about the dangers of online gambling, alcohol and cigarettes, saying those activities "are as, or even more, damaging than terrorism."

He addressed the issue during the launch of a youth channel, explaining that families across Turkey are in danger, considering that iGaming enables every smartphone to become a casino.

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