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Farooq Fatih Ozer – the founder of deceased Turkish cryptocurrency exchange Thodex – has reportedly denied all fraud charges against him during a court appearance in his homeland. The 29-year-old reportedly fled to Turkey soon after his organization shut down trading services and shut down its official website.
Rumors indicated that they hoarded over $2 billion in users’ funds, which was labeled as the biggest crypto scam in the country’s history. Özer was detained in Albania last summer and later deported to Turkey, where a legal process will determine whether he had a hand in the collapse and his possible prison sentence.
‘I was framed’
According to Sabah – one of Turkey’s leading media outlets, the trial against Ozer began with a hearing went on about 11 hours. The man’s allegation that he defrauded several Thodex customers and squandered their assets was false, and that he had been “framed.”
He revealed that the initial objective of his company was to get into e-commerce. However, at a later stage, Özer became fascinated with cryptocurrencies and decided to move the firm in that direction.
“I started mobile transactions with software developers included in my team. I have been involved with the digital world my whole life to set up a cryptocurrency exchange,” he said.
Another reason Theodex entered the digital asset universe was the fact that Turkey lacked proper crypto companies in 2017, Özer explained.
According to him, the company’s transactions were carried out automatically, even though he was the “authorized” person to oversee that activity:
“I personally checked the transactions done on the company’s platform to the banks every week in the form of an Excel spreadsheet. I was the only one doing this to make sure there was no security hole.
Özer said that some of his employees, including two of his siblings, were “illegal”. Prisoner,
He said that upon signing the initial membership agreement, he had stated that he should not be held responsible for any damages that may occur in the future. Özer said customers using the company’s services were aware of that risk.
Thodex’s death and frequent visits to Oz
The Turkey-based crypto exchange is set to shut down trading services in the spring of 2021 (four years after its establishment). The news shocked the firm’s 400,000 customers, leaving them with no option but to withdraw their money. On top of that, CEO Ozer was reluctant to resolve the issue and did not cooperate with the domestic authorities.
Instead, he fled the country and reportedly pocketed Money from over $2 billion users. His whereabouts remained unclear for over a year, with some sources indicating that he may be hiding in Albania. was a fugitive Arrested in the Balkan country in August 2022, while Turkish authorities insisted on his extradition and began preparations for legal proceedings against him.
If found guilty, Ozer could Slammed With a ridiculous sentence of over 40,000 years in prison.
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Farooq Fatih Ozer – the founder of deceased Turkish cryptocurrency exchange Thodex – has reportedly denied all fraud charges against him during a court appearance in his homeland. The 29-year-old reportedly fled to Turkey soon after his organization shut down trading services and shut down its official website.
Rumors indicated that they hoarded over $2 billion in users’ funds, which was labeled as the biggest crypto scam in the country’s history. Özer was detained in Albania last summer and later deported to Turkey, where a legal process will determine whether he had a hand in the collapse and his possible prison sentence.
‘I was framed’
According to Sabah – one of Turkey’s leading media outlets, the trial against Ozer began with a hearing went on about 11 hours. The man’s allegation that he defrauded several Thodex customers and squandered their assets was false, and that he had been “framed.”
He revealed that the initial objective of his company was to get into e-commerce. However, at a later stage, Özer became fascinated with cryptocurrencies and decided to move the firm in that direction.
“I started mobile transactions with software developers included in my team. I have been involved with the digital world my whole life to set up a cryptocurrency exchange,” he said.
Another reason Theodex entered the digital asset universe was the fact that Turkey lacked proper crypto companies in 2017, Özer explained.
According to him, the company’s transactions were carried out automatically, even though he was the “authorized” person to oversee that activity:
“I personally checked the transactions done on the company’s platform to the banks every week in the form of an Excel spreadsheet. I was the only one doing this to make sure there was no security hole.
Özer said that some of his employees, including two of his siblings, were “illegal”. Prisoner,
He said that upon signing the initial membership agreement, he had stated that he should not be held responsible for any damages that may occur in the future. Özer said customers using the company’s services were aware of that risk.
Thodex’s death and frequent visits to Oz
The Turkey-based crypto exchange is set to shut down trading services in the spring of 2021 (four years after its establishment). The news shocked the firm’s 400,000 customers, leaving them with no option but to withdraw their money. On top of that, CEO Ozer was reluctant to resolve the issue and did not cooperate with the domestic authorities.
Instead, he fled the country and reportedly pocketed Money from over $2 billion users. His whereabouts remained unclear for over a year, with some sources indicating that he may be hiding in Albania. was a fugitive Arrested in the Balkan country in August 2022, while Turkish authorities insisted on his extradition and began preparations for legal proceedings against him.
If found guilty, Ozer could Slammed With a ridiculous sentence of over 40,000 years in prison.
Binance Free $100 (Exclusive): Use this link to register and get $100 free and 10% off on Binance Futures for the first month. (terms).
PrimeXBT SPECIAL OFFER: Use this link to register and enter the code CRYPTOPOTATO50 to receive up to $7,000 on your deposit.
