Thodex founder handed over 460 life sentences in jail for enormous Turkish crypto scandal

Fatih Özer, the founding father of the failed crypto alternate Thodex, has been sentenced to 11,196 years, equal to 466 life sentences, in Turkish jail, Bloomberg reported on Sept. 7.

Özer was sentenced alongside his brother Güven Özer and sister Serap Özer for fraud, amongst different associated crimes corresponding to organizing and managing legal organizations, laundering of legal proceeds, and others.

The courtroom additionally imposed a wonderful of 135 million liras ($5 million roughly) on the defendants.

The three had been a part of the 21 defendants charged by Turkish authorities for the failure of Thodex. The alternate was one of many largest within the nation earlier than it abruptly went offline in April 2021.

This affected greater than 400,000 customers who misplaced entry to about $2 billion of their crypto deposits. Özer initially escaped to Albania, however an Interpol Purple Discover ensured his arrest in August 2022.

In the meantime, 16 of the 21 defendants had been acquitted, whereas 4 of these already jailed had been launched for lack of proof. The remaining received varied jail phrases.

Nevertheless, Özer maintained his innocence even on the time of conviction. In accordance with him, he was not working a legal group. He reportedly stated:

“Thodex is only a firm and went bankrupt. There isn’t a point out of a legal group in Thodex.”

A life imprisonment conviction in Turkey has a minimal time period of 24 years.

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