Authorities have launched procedures to cancel the Turkish citizenship of 687 people who allegedly obtained it through a fraudulent property scheme, following a nationwide operation that led to the detention of 72 suspects, Justice Minister Akın Gürlek announced on Tuesday.

The operation targeted an organized crime group accused of helping foreign nationals acquire Turkish citizenship by inflating the value of low-priced properties with fake appraisal reports and carrying out sham real estate transactions to meet citizenship-by-investment requirements.

According to Gürlek, investigators found that around TL 2.5 billion ($52.6 million) that should have entered Türkiye as part of the investment process never reached the country. Instead, the suspects allegedly created fictitious financial transactions while receiving illicit financial benefits from foreign nationals seeking Turkish citizenship.

As part of the operation, detention warrants were issued for 90 suspects, with 72 apprehended during simultaneous raids across 16 provinces centered in Istanbul. Authorities also seized seven companies, appointing trustees to manage them, along with 1,045 properties, a hotel in Bodrum, 15 vehicles, a yacht and 10 bank accounts.

Gürlek said authorities have initiated procedures to revoke the Turkish citizenship of individuals found to have acquired it through the fraudulent scheme.

He added that the operation was carried out under the coordination of the Organized Crime Investigation Bureau of the Istanbul Chief Public Prosecutor's Office and the Istanbul Police Department's Anti-Migrant Smuggling and Border Gates Division, stressing that authorities would continue using all legal means against criminal networks involved in fraud and the abuse of Türkiye's citizenship laws.