19 Arrested in Kyrenia Over Alleged Fake Investment Fraud Scheme
Nineteen people have been arrested in Kyrenia following a police operation targeting an alleged online investment fraud network that is also suspected of laundering criminal proceeds.
According to the Police Press Office, officers from the Financial Crimes Investigation Unit carried out the operation on July 7, 2026, uncovering what investigators believe was a large-scale fraud and money laundering scheme conducted through information technology systems.
Police said the suspects operated a fake investment platform that posed as a legitimate investment company despite carrying out no genuine investment activities.
Investigators allege that the group persuaded victims to invest money through the fraudulent platform before obtaining the funds through deception, constituting online fraud.
The investigation found that the suspects allegedly laundered US$550,553 in criminal proceeds through transactions carried out between January 1 and July 7, 2026.
A total of 19 suspects were arrested as part of the investigation.
During the operation, police seized numerous computers and mobile phones believed to have been used in the alleged fraudulent activities.
The investigation remains ongoing.
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