Bitexen owner Kemal Cenk Erdem has been arrested on charges of “concealing the illegitimate source of assets derived from crime” following an investigation by the Istanbul Chief Public Prosecutor’s Office.
The arrest warrant for Erdem, who was detained as part of the investigation, referenced findings concerning financial ties and money transfers between several companies. After reviewing financial records, corporate connections and statements included in the case file, the judge determined that there were strong indications of guilt.
Financial links cited in court ruling
The court ruling noted that Kemal Cenk Erdem was not listed in the commercial registry as a direct shareholder, board member or authorized representative of Dinamik Elektronik Para ve Ödeme Hizmetleri A.Ş.
However, the ruling stated that Erdem is the husband of Ayşin Erdem, the company’s founder, long-time sole shareholder and controlling partner. It also cited his partnerships and corporate connections with Bitexen Kripto Varlık Alım Satım Platformu A.Ş., Evenpal Teknoloji A.Ş. and KCE Finansal Teknoloji Yatırımları A.Ş.
According to the ruling, financial transactions associated with Bitexen and Kemal Cenk Erdem were identified among the capital sources of DinamikPay and Dinamik Yatırım. The court also noted two-way financial transactions totaling nearly 100 million Turkish Lira between Ayşin Erdem and Kemal Cenk Erdem.
Erdem denies allegations
The court found that the evidence warranted a detailed investigation into whether Kemal Cenk Erdem facilitated the transfer of money allegedly connected to illegal gambling and committed money-laundering offenses.
During the court hearing, Erdem denied the accusations. Erdem stated, “I have had no commercial dealings with the company in question, nor with the company of which I am the chairman of the board. I request to be released.”
The court ordered Kemal Cenk Erdem’s arrest, citing strong suspicion of guilt, concrete evidence indicating a flight risk, the fact that evidence had not yet been fully collected and the assessment that judicial-control measures would be insufficient.
This is not investment advice.
