İstanbul prosecutors have launched a criminal investigation into Gain Medya, a Turkey-based streaming platform, and its affiliated companies, over allegations of money laundering and aggravated fraud linked to illegal betting activities.
All companies were seized and three suspects identified by their initials, B.K., B.R.G., and S.A., were detained today as part of the the operation. Gendarmerie teams also conducted raids at company offices and seized movable and immovable assets believed to be linked to criminal proceeds.
The Savings Deposit Insurance Fund (TMSF) has been appointed as a trustee for all companies associated with Gain Medya. This includes Gain Studio Prodüksiyon, Gain Shorts Medya, Anahat Holding, Anahat Medya, 3B Yazılım Teknolojileri, and Berton Yapı İnşaat construction firm.
According to the prosecutor’s statement, the investigation is based on reports from Turkey’s Financial Crimes Investigation Board (MASAK), witness testimonies, wiretap records, and commercial registry data. Authorities flagged a sharp rise in company capital as inconsistent with normal business activity.
Gain was founded in Jul 2020 and gained prominence with its original productions, reaching 3.3 million subscribers as of last month, according to a company statement.
Suspicious transactions
The MASAK report highlighted significant and unexplained cash movements in the accounts of suspect B.K., including frequent large cash deposits and withdrawals, as well as substantial international wire transfers. Half of its shares were acquired by B.K. in June last year. Following the acquisition, the company received approximately 450 million liras (1 US dollar = 42 Turkish liras) in cash and bank transfers between Apr and Oct 2024, including a 1 million US dollar deposit in January 2025. In November, the company increased its capital to 1 billion liras, most of which was offset by shareholder receivables.
Authorities noted that the volume, frequency, and method of financial transactions did not align with standard commercial practices.
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Investigators also examined Anahat Medya, a company established in Dec 2024 by S.A. with 10 million liras in capital. The company acquired Gain Media for 450 million liras in January 2025 and immediately increased its capital to 470 million liras. Between January and August 2025, Anahat Medya transferred over 1 billion liras to Gain Media, funded largely by large cash deposits into S.A.’s personal account.
The statement concluded that these findings raised strong suspicions of an organized financial structure aimed at laundering criminal proceeds.
The operation comes amid investigations and raids targeting the laundering of illegal betting proceeds across Turkey. The ongoing probes include the allegations of betting and match-fixing, some of which also involve illegal betting operations. The size of the illegal betting market in Turkey is estimated to be roughly twice that of the legal market, which is valued at around 13 billion US dollars according to Spor Toto, the country's official regulator of sports-related betting and games of chance.
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