Turkish media reports have identified British Turkish Cypriot businessman Burak Basel as the alleged central figure behind what authorities describe as a global illegal betting and online gambling network with estimated monthly revenues of up to $3 billion.

Turkish newspaper Sabah reported on Monday that an investigation by the Istanbul prosecutor’s office uncovered what it described as an extensive digital and financial operation spanning Malta, Bulgaria, Dubai and the north.

According to the report, Turkish authorities seized an 80 terabyte digital archive from servers in Bulgaria containing personal and banking data linked to approximately 13.8 million individuals connected to illegal betting activities in Turkey.

Sabah reported that investigators believe the financial structure managed by Basel was “at the heart” of the alleged illegal gambling ecosystem operating across several jurisdictions.

The publication described Basel as presenting himself internationally as a “successful FinTech investor” through Basel Holding, with appearances in American financial publications and business awards in the north, including recognition as ‘Entrepreneur of the Year’.

The report stated that Basel maintained business activities in the United Kingdom, Malta, the United Arab Emirates and the north, while also linking his name to the Paradise Papers investigation and financial networks allegedly associated with murdered Turkish Cypriot businessman Halil Falyali.

Turkish authorities have not publicly released further details regarding potential charges or arrests connected to the investigation.

No official public response had been issued by Basel regarding the allegations at the time of publication.