Thodex Founder Receives Over 11,000-Year Prison Sentence in Turkey

Thodex Founder Receives Over 11,000-Year Prison Sentence in Turkey


Turkish Cryptocurrency Exchange Thodex Faces Severe Legal Consequences

Founders of the Turkish cryptocurrency exchange Thodex, including Faruk Fatih Ozer and his two siblings, have been found guilty of a series of illegal activities. These activities include fraud, money laundering, and leading a criminal organization. Ozer, who started Thodex during the peak of the cryptocurrency frenzy in 2017, has been sentenced to 11,196 years and 10 months in prison. The court’s verdict likewise applies to his siblings.

The Istanbul court, in its decision on September 7th, convicted the accused individuals of aggravated fraud, criminal organization leadership, and money laundering. Ozer, stated as a “high-school dropout,” fled to Albania after Thodex collapsed. It is important to note that during his final court hearing, Ozer displayed a lack of remorse.

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Fraud States and Request for Acquittal

Ozer vigorously denies any wrongdoing and states that he and his associates have been victims for over two years. He argues that Thodex simply went bankrupt and refutes the states against him. In an intriguing twist, Ozer even quoted a Turkish folk song to request his release and acquittal.

“I joined this company not to commit a crime, but for my career. I would have worked even if this company was someone else’s company, not my brother’s. Working in my brother’s company did not give me any privilege.”

Faruk Fatih Ozer during a court hearing

Hot Take: A Cautionary Tale in the Cryptocurrency World

The Thodex case serves as a stark reminder of the  capacity dangers and consequences associated with the digital currency industry. It outlines the need for vigilance and due diligence when engaging in crypto-related activities. As an investor or enthusiast, it is important to stay notified, conduct thorough research, and exercise caution before taking part  in any cryptocurrency exchanges or investment schemes. Safeguarding your assets and protecting yourself from fraudulent activities should always be a priority in the cryptocurrency world.

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Noah Rypton stands as an enigmatic fusion of crypto analyst, relentless researcher, and editorial virtuoso, illuminating the uncharted corridors of cryptocurrency. His odyssey through the crypto realms reveals intricate tapestries of digital assets, resonating harmoniously with seekers of all stripes. Noah’s ability to unfurl the labyrinthine nuances of crypto intricacies is elegantly interwoven with his editorial finesse, transmuting complexity into an engaging symphony of comprehension.

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