11,196 Years Jail Sentence for Faruk Ozer, CEO of Collapsed Turkish Crypto Exchange Thodex

Faruk Fatih Ozer, the founder of the collapsed Turkish crypto exchange Thodex, his sister Serap Ozer and his brother Guven Ozer have been sentenced to 11,196 years, 10 months and 15 days in prison, according to local media. A judicial fine of 135 million liras ($5 million approx.) was also imposed. From a report: Thodex was one of Turkey's largest crypto exchanges before it suddenly went offline in April 2021 and Ozer went missing. Over 400,000 members were left in the dark without access to deposits of $2 billion in cryptocurrencies. Ozer had fled to Albania but was arrested in August 2022 after an Interpol red notice against him. By April 2023, Ozer was extradited to Turkey, and detained by police upon arrival on seven charges, including establishing and managing an organization with the purpose of committing a crime, being a member of an organization, fraud by using information systems as a tool of banks or credit institutions, fraud of merchants or company executives and cooperative managers, and laundering the value of assets resulting from crime.

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