TEHRAN (Press Shia Agency) – Turkish authorities captured members of a network that has been transferring huge sums of money abroad and damaging the country’s economy.

The attorney general of Istanbul said a court has issued warrant for the arrest of 417 people on charges of economic crimes and attempts to harm Turkey’s economy.

Hurriyet Daily News quoted the attorney as saying that the detainees, including a number of Iranian nationals, had created a special financial network that threatened Turkey’s economic security.

The total remittance transfers the network has sent from Turkey to foreign countries since mid-2017 amounts to around 2.4 billion Turkish liras ($500 million), the report added.

The network has transferred money through 5,000-lira transactions to more than 28,000 bank accounts abroad.

The network took a percentage of every transaction that foreign beneficiaries received, most of whom are Jewish Iranians residing in the United States.