According to Hürriyet Daily News, prosecutors in Istanbul, Turkey, have indicted 504 people suspected of being involved in a “Grand Bazaar” money-laundering network. The funds involved are close to 40 billion Turkish lira (about $850 million). Prosecutors said the network concealed proceeds from illegal gambling and other activities through shell companies, jewelry stores, foreign-exchange exchange institutions, digital payment service providers, and cryptocurrency exchanges. Some of the funds were also converted into cryptocurrency and transferred abroad. Prosecutors are seeking to sentence alleged mastermind Türker Ak to up to 34.5 years in prison, and alleged network administrator Murat Dönmezoğlu to up to 31 years in prison.