In Turkey, the trial of the founder and former CEO of the Thodex cryptocurrency exchange Faruk Fatih Ozer, his sister and brother has ended. This is reported by local media.
On charges including fraud and money laundering, they were each sentenced to 11,196 years, 10 months and 15 days in prison. The court also imposed a fine of 135 million liras (about $5 million).
An acquittal was issued against 16 out of 21 defendants. Four people were released from prison due to lack of evidence, the rest received various terms.
On April 20, 2021, Thodex unexpectedly stopped trading. Initially, the platform cited technical work, but then claimed to be transferring the business to a “major partner”, which would supposedly take 4-5 days. Users were concerned about the closure of social media accounts by the company.
As part of an investigation into the alleged exit scam, authorities have issued arrest warrants for 78 people associated with the platform. Most of the suspects were arrested.
Ozer said he had no plans to go into hiding. However, according to Reuters, on the day Thodex stopped trading, he flew to Albania, where he was detained by local authorities.
Recall that in April 2023, the former CEO of the exchange was extradited to Turkey.
Earlier, the local prosecutor’s office charged Ozer and 20 other defendants with the creation of a criminal organization, fraud and money laundering. Over 40,000 years in prison were requested for them.
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