DistantNews
Support us
Istanbul Jeweler Disappears with 500kg of Gold, Allegedly Including Community Funds

Istanbul Jeweler Disappears with 500kg of Gold, Allegedly Including Community Funds

From Cumhuriyet · () Turkish

Translated from Turkish, summarized and contextualized by DistantNews.

At a glance

News Sources not specified Ongoing story
  • A jewelry store owner in Istanbul's Fatih district, identified as Mehmet Y., has disappeared with approximately 500 kilograms of gold.
  • The store, Altıneller Kuyumculuk, reportedly held gold belonging to the İsmailağa religious community, including funds from the İDDEF foundation and the Erenler Foundation.
  • Victims who entrusted their savings to the jeweler are now facing losses, with the store found closed.

A significant gold heist has rocked Istanbul's Fatih district, with the owner of Altıneller Kuyumculuk, identified as Mehmet Y., vanishing with an estimated 500 kilograms of gold. The disappearance has left numerous individuals and organizations facing substantial financial losses.

Reports indicate that the missing gold includes significant amounts entrusted to the jeweler by the İsmailağa religious community. Specifically, the İDDEF (Foundation for People with Values) and the Erenler Foundation, both reportedly affiliated with the community, are said to have had their gold reserves held by Mehmet Y.

Customers who had deposited their savings with Altıneller Kuyumculuk over the years have expressed their distress, finding themselves victims of the alleged embezzlement. The jewelry store has been found closed, leaving many without recourse.

Ahmet Mahmut Ünlü, known as Cübbeli Ahmet and a figure who has distanced himself from the İsmailağa community, publicly questioned the whereabouts of the gold. He posed critical questions regarding the amount of gold lost from İDDEF and the Erenler Foundation, and whose assets they truly were, highlighting the gravity of the situation and the potential scale of the fraud.

How many kilos of gold belonging to İDDEF and Erenler Foundation affiliated with İsmailağa were lost, and whose gold was it?

— Ahmet Mahmut Ünlü (Cübbeli Ahmet)Questioning the scale of the gold disappearance and the ownership of the assets.
DistantNews Editorial

Originally published by Cumhuriyet in Turkish. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.