A court docket in Turkey has sentenced Faruk Fatih Özer, the Founding father of the collapsed Turkish crypto trade, Thodex, his sister, Serap Özer, and his brother, Güven Özer to 11,196 years, 10 months and 15 days in jail, based on Coindesk. Additional, they’re going through a judicial penalty of 135 million liras (about $5 million).
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It was a part of an in depth 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 resulting from a scarcity of proof. The remainder of the defendants confronted various sentencing for the costs set in opposition to them.
Thodex was the biggest cryptocurrency trade in Turkey till the trade abruptly went offline in April 2021. Özer instantly went lacking, however the authorities arrested his brother, sister, and 4 different senior staff and detailed a minimum of 83 different folks.
The trade 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 trade was dealing with crypto buying and selling volumes of greater than $585 million, based on CoinMarketCap.com knowledge. It was estimated to be holding cryptocurrency deposits of about $2 billion.
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Severe Expenses in opposition to Thodex CEO
Özer was later arrested in Albania in August 2022 after an Interpol crimson discover was issued in opposition to him. He was extradited to Turkey final April over seven expenses, together with creating and working a felony group, being a part of a felony group, dishonest by utilizing info methods as a instrument 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 court docket in Turkey has sentenced Faruk Fatih Özer, the Founding father of the collapsed Turkish crypto trade, Thodex, his sister, Serap Özer, and his brother, Güven Özer to 11,196 years, 10 months and 15 days in jail, based on Coindesk. Additional, they’re going through a judicial penalty of 135 million liras (about $5 million).
It was a part of an in depth 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 resulting from a scarcity of proof. The remainder of the defendants confronted various sentencing for the costs set in opposition to them.
Uncover StealthEX.io – the way forward for cryptocurrency. Swap immediately throughout 1000+ cash, no sign-up, safe, and personal. Dive into the brand new age of crypto!
Thodex was the biggest cryptocurrency trade in Turkey till the trade abruptly went offline in April 2021. Özer instantly went lacking, however the authorities arrested his brother, sister, and 4 different senior staff and detailed a minimum of 83 different folks.
The trade 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 trade was dealing with crypto buying and selling volumes of greater than $585 million, based on CoinMarketCap.com knowledge. It was estimated to be holding cryptocurrency deposits of about $2 billion.
Maintain Studying
Severe Expenses in opposition to Thodex CEO
Özer was later arrested in Albania in August 2022 after an Interpol crimson discover was issued in opposition to him. He was extradited to Turkey final April over seven expenses, together with creating and working a felony group, being a part of a felony group, dishonest by utilizing info methods as a instrument 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.
