Turkish authorities have confiscated jewels, antiques, and precious metals valued at approximately $30 million from businesses in Istanbul’s historic Grand Bazaar during an investigation into smuggled diamonds.
The operation began after 10 suspects were initially detained for allegedly smuggling gems into Turkey.
Acting on orders from the Istanbul Chief Public Prosecutor’s Office, police raided 23 shops in the 15th-century marketplace, arresting an additional 40 people.
Officials reported that investigators seized 135 pieces of jewelry, 1,132 ingots of precious metals, and 267 historical artifacts, along with firearms and digital materials.
The total estimated value of the confiscated items is 1.25 billion Turkish liras ($30.5 million).
The Grand Bazaar, one of the world’s most visited tourist destinations, was established by Sultan Mehmet II shortly after the Ottoman conquest of Constantinople.
Hosting thousands of small shops, the bazaar is often described as the world’s first shopping mall.
Law enforcement has frequently targeted businesses in the Grand Bazaar.
In April, authorities raided a company involved in foreign currency and precious metal trading over allegations of money laundering.