{"id":136068,"date":"2024-08-23T12:00:40","date_gmt":"2024-08-23T09:00:40","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=136068"},"modified":"2024-08-23T01:59:50","modified_gmt":"2024-08-22T22:59:50","slug":"turkish-authorities-arrest-crypto-founder-for-4-billion-pyramid-scheme","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/turkish-authorities-arrest-crypto-founder-for-4-billion-pyramid-scheme\/","title":{"rendered":"Turkish Authorities Arrest Crypto Founder for $4 Billion Pyramid Scheme"},"content":{"rendered":"

He faces<\/a> <\/strong>allegations of orchestrating a pyramid scheme that defrauded investors of $4 billion, according to Turkish media sources.<\/p>\n

Szakacs, originally from Sweden and now known as Emre Avc\u0131 after obtaining Turkish citizenship, has denied the charges, asserting that his involvement was limited to finance and marketing.<\/p>\n

The arrest followed an anonymous tip on June 28. After Turkish authorities conducted raids on two villas in Istanbul’s Beykoz district, Szakacs was detained on July 9 and formally arrested the following day on charges related to fraud involving information systems and financial institutions.<\/p>\n