T
urkish police have dismantled a criminal syndicate that enabled 451 foreigners to obtain citizenship through sham real‑estate deals. Interior Minister Ali Yerlikaya announced the crackdown, which saw 106 arrests across 19 provinces and the seizure of assets worth millions of dollars. The group, headed by an individual known as M.A., staged fictitious property sales that let investors and their families bypass legitimate investment thresholds. Authorities are now moving to revoke the citizenship of all 451 participants.
The operation seized 1,240 apartments, 47 cars, 65 land plots and several corporate entities, including a holding company group and five joint‑stock companies. Suspects face charges of forming a criminal organization, migrant smuggling, money laundering, fraud and document forgery.
In a statement, Ali Yerlikaya called the scheme “a Turkish gang and investors trying to scam the system.” Aran Hawker, co‑founder of CIP Turkey, said his firm was aware of the fraud from the outset. Clients would pay the required $250,000 investment but receive about $80,000 back at title‑deed offices. Hawker noted that legitimate firms refused such arrangements and suggested the loophole was deliberately left open to expose the fraudsters before authorities intervened. He explained the scheme exploited weaknesses in Turkey’s former valuation system, which relied on bank appraisers that could be influenced. Recent reforms moved valuation to the Capital Markets Board, which now uses a random assignment system to eliminate manipulation.
Serhan Aysever, managing partner at Beyond Global Partners, warned that this case highlights the risks for investors in any citizenship‑by‑investment program, especially where real‑estate is involved. He urged thorough due diligence on agents, lawyers, developers and advisors. Taymour Polding, co‑founder of CIP Turkey, noted that honest applications were sometimes rejected or stalled due to administrative errors such as misfiling, incorrect source‑of‑fund declarations or wrong SWIFT messages. He acknowledged that organized crime seeks every industry angle but praised the Turkish CIP’s robust due‑diligence procedures. Polding cautioned that many real‑estate firms offer CBI as an add‑on service without qualified staff, leading to complications.
Aysever added that real‑estate‑linked migration programs are especially vulnerable because they combine legal and financial elements. He expects increased regulatory scrutiny locally and internationally following incidents like this. He emphasized that legitimate opportunities exist only when handled by credible professionals; cutting corners or relying on unverified actors carries severe legal and financial risks that are often irreversible.
