Turkish security sources have revealed new details surrounding the dismantling of a major international money-laundering network, following the accidental arrest of a Libyan national in Istanbul. The investigation, reported by Jeune Afrique, uncovered a secret financial system stretching across Libya, Malta, Europe and parts of Asia, with illicit transactions exceeding one billion dollars.
The case began nearly two years ago in Malta, when the name of Libyan national Murad Ali Al-Farjani surfaced in a Turkish police inquiry. Al-Farjani, born in Tripoli and 36 years old at the time, had been leading a seemingly normal life in western Libya while travelling frequently to Malta. His intercepted communications eventually exposed a sophisticated money-laundering and tax-evasion scheme worth around €20 million.
Acting on an international arrest warrant, Maltese authorities detained Al-Farjani and charged him with money laundering, criminal conspiracy and providing false statements to officials. He was soon imprisoned in Valletta. But investigators later discovered that he was only one link in a much larger chain involving several Libyan nationals who had been using the island as a logistical base. Many of them regularly arrived carrying large sums of cash claimed to be intended for the purchase of luxury vehicles, jewellery and other high-value goods.
According to Maltese inspector Keith Malan, the activities date back to 2021 and involved the transfer of significant amounts of money to Turkey via Malta. Investigators later identified other Libyans connected to the operation, including representatives of companies linked to Essam Mohamed Al-Idrannawi, Khaled Bayli and Hedidan Tamer Ramadan Ali, alongside a network of shell companies used to move funds through the United States, the United Kingdom, Italy and Europol-monitored jurisdictions.
Meanwhile, Turkish authorities uncovered a parallel underground banking system operating through Malta and involving companies based in Libya, Russia and Central Asia. The network is estimated to have laundered more than $900 million. The probe culminated in a major police operation in Istanbul’s Laleli district, where officers seized 50 billion Turkish lira — nearly €1 billion — tied to illegal activity, including Libyan-related laundering.
In Libya, the case has attracted wide public attention. Analysts note that the dismantled network likely represents only a fraction of the illicit financial flows passing through informal channels, reflecting the scale of the shadow economy affecting the country.
