Türkiye cracks down on major loan sharking ring, seizes over $32 mln in assets

Turkish authorities have dismantled a major organised crime group accused of loan sharking and asset laundering across three provinces, seizing over $32.2 million in assets, Interior Minister Ali Yerlikaya announced.

In coordinated operations led by the Gendarmerie in the provinces of Çanakkale, Balıkesir, and Tekirdağ, nine suspects were detained, seven of whom were formally arrested. Two others were released under judicial supervision, Caliber.Az reports per the minister’s post on X. 

“Tefecilik yapan organize suç örgütüne karşı 3 ilde düzenlediğimiz operasyonlarda 7 şahıs tutuklandı, 1 Milyar 250 Milyon TL değerindeki 75 gayrimenkule ve 34 araca el kondu.”

Çanakkale merkezli Balıkesir ve Tekirdağ’da “Suç İşlemek Amacıyla Örgüt Kurmak” ve "Tefecilik"… pic.twitter.com/ol3m9PLiS8

— Ali Yerlikaya (@AliYerlikaya) May 9, 2025

“These individuals operated an organised crime group engaged in usury. They exploited financially vulnerable citizens by lending money at exorbitant interest rates, then used threats and coercion to seize their assets when they were unable to repay,” he wrote. 

According to the Interior Ministry, the group forced borrowers to sign over checks, promissory notes, and even property deeds as collateral. When payments were missed, victims were subjected to threats and pressure, ultimately losing their assets to the criminal network.

The operation, carried out under the coordination of the Çanakkale Chief Public Prosecutor’s Office and the Gendarmerie General Command’s Anti-Smuggling and Organised Crime (KOM) Department, also resulted in the seizure of:

• 75 properties and 34 vehicles valued at over $32.2 millions

• 2,478 checks and promissory notes,

• 10 checkbooks,

• Numerous computers, mobile phones, documents, and digital materials.

The Financial Crimes Investigation Board (MASAK) provided key intelligence in tracing the suspects' assets, which were allegedly acquired through proceeds of crime.

Minister Yerlikaya praised the efforts of law enforcement and judicial authorities involved in the operation, declaring, “There is no place for loan sharks in our society.”

By Sabina Mammadli