A courtroom in Turkey has sentenced Faruk Fatih Özer, the Founding father of the collapsed Turkish crypto alternate, Thodex, his sister, Serap Özer, and his brother, Güven Özer to 11,196 years, 10 months and 15 days in jail, in response to Coindesk. Additional, they’re going through a judicial penalty of 135 million liras (about $5 million).
It was a part of an intensive trial of 21 defendants going through as much as 40,564 years in jail. On Thursday, the Anatolian ninth Heavy Penal Courtroom acquitted 16 defendants and launched one other 4 on account of a scarcity of proof. The remainder of the defendants confronted various sentencing for the fees set in opposition to them.
Thodex was the biggest cryptocurrency alternate in Turkey till the alternate all of a sudden went offline in April 2021. Özer instantly went lacking, however the authorities arrested his brother, sister, and 4 different senior workers and detailed at the very least 83 different individuals.
The alternate had round 400,000 purchasers when it shuttered, out of which 390,000 have been actively buying and selling cryptocurrencies. Earlier than going offline, the alternate was dealing with crypto buying and selling volumes of greater than $585 million, in response to CoinMarketCap.com knowledge. It was estimated to be holding cryptocurrency deposits of about $2 billion.
Severe Costs in opposition to Thodex CEO
Özer was later arrested in Albania in August 2022 after an Interpol pink discover was issued in opposition to him. He was extradited to Turkey final April over seven prices, together with creating and operating a legal group, being a part of a legal group, dishonest by utilizing data methods as a software of banks or credit score establishments, deceiving retailers or firm executives and cooperative managers, and hiding the worth of property that come from crime.
He was additional sentenced to seven months and 15 days in jail in July for failing to submit sure paperwork demanded by the Turkish Tax Inspection Board, Finance Magnates earlier reported.
A courtroom in Turkey has sentenced Faruk Fatih Özer, the Founding father of the collapsed Turkish crypto alternate, Thodex, his sister, Serap Özer, and his brother, Güven Özer to 11,196 years, 10 months and 15 days in jail, in response to Coindesk. Additional, they’re going through a judicial penalty of 135 million liras (about $5 million).
It was a part of an intensive trial of 21 defendants going through as much as 40,564 years in jail. On Thursday, the Anatolian ninth Heavy Penal Courtroom acquitted 16 defendants and launched one other 4 on account of a scarcity of proof. The remainder of the defendants confronted various sentencing for the fees set in opposition to them.
Thodex was the biggest cryptocurrency alternate in Turkey till the alternate all of a sudden went offline in April 2021. Özer instantly went lacking, however the authorities arrested his brother, sister, and 4 different senior workers and detailed at the very least 83 different individuals.
The alternate had round 400,000 purchasers when it shuttered, out of which 390,000 have been actively buying and selling cryptocurrencies. Earlier than going offline, the alternate was dealing with crypto buying and selling volumes of greater than $585 million, in response to CoinMarketCap.com knowledge. It was estimated to be holding cryptocurrency deposits of about $2 billion.
Severe Costs in opposition to Thodex CEO
Özer was later arrested in Albania in August 2022 after an Interpol pink discover was issued in opposition to him. He was extradited to Turkey final April over seven prices, together with creating and operating a legal group, being a part of a legal group, dishonest by utilizing data methods as a software of banks or credit score establishments, deceiving retailers or firm executives and cooperative managers, and hiding the worth of property that come from crime.
He was additional sentenced to seven months and 15 days in jail in July for failing to submit sure paperwork demanded by the Turkish Tax Inspection Board, Finance Magnates earlier reported.
