📰 Yello Paradisers!
We’ve got some BREAKING News for you! Faruk Fatih Özer, the former CEO of Turkish crypto exchange Thodex, has been handed a jaw-dropping sentence of 11,196 years by a Turkish court. The charges include “establishing, managing and being a member of an organization,” “qualified fraud,” and “money laundering.”
📰 The Backstory: A High-Stakes Exit Scam
Thodex was once a leading crypto exchange in Turkey until it suddenly ceased operations in 2021. Özer fled the country, taking with him a staggering $2 billion in users’ assets. He was later arrested in Albania in August 2022 and extradited to Turkey in April 2023.
📰 The Financial Fallout: Heavy Fines and More
In addition to the prison sentence, Özer and his two siblings were slapped with a $5 million fine. This comes from the Anatolian 9th High Criminal Court, as reported by the Turkish state-run news agency, Anadolu Agency.
📰 The Defense: Claims of Injustice
In court, Özer argued that he and his family are victims of injustice. He claimed that Thodex was merely a crypto company that went bankrupt and had no criminal intentions. Despite his defense, the court was not swayed.
📰 The Other Defendants: Mixed Outcomes
The case had a total of 21 defendants, five of whom attended the court hearing in person. Sixteen were acquitted due to lack of evidence, while four were released. The remaining defendants received varying sentences based on their involvement.
🌴 ParadiseTeam 📰
