Türkiye Uncovers Fraud in Citizenship by Investment Programme
Türkiye Reveals Details of Citizenship-by-Investment Fraud Scheme
Turkish authorities have disclosed new details about a large-scale fraud investigation involving the country's Citizenship by Investment programme. Prosecutors say an organized network helped foreign applicants obtain Turkish citizenship by using forged property valuations, fictitious real estate transactions and fabricated financial records.
The investigation focuses on individuals and organizations suspected of manipulating the investment process required to qualify for Turkish citizenship.
How the Scheme Allegedly Worked
According to investigators, the suspects artificially increased the value of low-cost properties by preparing fraudulent valuation reports. These documents allowed foreign applicants to appear to meet the minimum investment threshold required under the Citizenship by Investment programme.
Authorities also allege that the network organized fictitious property sales and created false financial transactions to make it appear that the required investment had been completed.
- Fake real estate valuation reports.
- Fictitious property purchase agreements.
- Forged financial documentation.
- Artificially inflated property prices.
Financial Damage Under Investigation
Investigators estimate that approximately 2.5 billion Turkish lira (around 52 million US dollars) that was expected to enter the Turkish economy through legitimate investment never actually reached the country.
The alleged scheme instead generated false money flows while enabling illegal profits from applicants seeking Turkish citizenship.
Authorities warn that using forged documents or fictitious investments to obtain citizenship may result in criminal prosecution and the cancellation of citizenship decisions.
Police Operation Across Türkiye
The investigation was coordinated by the Organized Crime Investigation Office under the Istanbul Chief Public Prosecutor's Office.
Simultaneous operations were carried out in 16 provinces. Prosecutors issued detention warrants for 90 suspects, and 72 people were taken into custody.
During the operation, authorities also seized assets connected to the investigation, including:
- 1,045 real estate properties.
- A hotel in Bodrum.
- 15 vehicles.
- A yacht.
- 10 bank accounts.
Possible Consequences
Investigators have identified 687 individuals who are suspected of obtaining Turkish citizenship through the alleged scheme. If the allegations are confirmed in court, authorities may begin legal procedures to revoke their citizenship.
The Ministry of Justice stated that all legal measures will continue to be used against organizations that abuse Türkiye's citizenship legislation and cause financial damage to the state.
Legal Investors Are Not Affected
Turkish authorities emphasized that the investigation concerns only fraudulent applications involving forged documents or fictitious investments. Investors who obtained Turkish citizenship through legitimate investments and complied with all legal requirements are not affected.
Türkiye introduced its Citizenship by Investment programme in 2017 to attract foreign capital. Under the current rules, applicants may qualify by purchasing real estate worth at least 400,000 US dollars and holding the property for a minimum of three years, or by making other qualifying investments established under Turkish law.
