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Farouk Fetih Ozer – the founder of once-leading Turkish cryptocurrency exchange Thodex – will spend seven months and 15 days in prison for failing to submit required documents to the tax inspection board.
It also faced allegations of fraud for siphoning off more than $2 billion in customer funds when the platform collapsed in 2021. While Ozer reportedly fled Turkey soon after the incident, he was arrested in Albania last summer. If found guilty in all the cases, his punishment could be even more severe.
Özer Maintain Your Innocence
As informed of Ozer’s case was heard at the Anatolian 17th Criminal Court of First Instance, where magistrates initially sentenced him to one and a half years in prison, according to Hürriyet Daily News. They later reduced the sentence based on its behaviour, social relations and the potential impact on his future.
Furthermore, the court postponed the announcement of the verdict against Ozer and postponed the implementation of the order.
Thodex’s founder once again claimed his innocence, pointing out that he was not a leader of the company at the time of the alleged crime. He said that a previously appointed trustee had prevented him from showing the requested records.
The legal process against Ozer began in October 2021 when the Turkish authorities urged him to produce some documents related to his activities at Theodex. The founders of the exchange failed to do so within the specified legal time limit.
their other problems
In addition to the above crime, Ozer faces several other charges that could send him to prison for the rest of his life.
Failed investors and prosecutors have insisted that they played a key role in Thodex’s collapse in the spring of 2021 when the platform ceased trading services. 400,000 customers were unable to withdraw their funds, while Ozer reportedly left the country with over $2 billion of users’ money.
The fugitive was detained in Albania in August 2022 after reportedly being on the run for more than a year. Albanian and Turkish officials negotiated his deportation, and he arrived In his homeland in April. If convicted, Ozer faces a ridiculous 40,000 years in prison.
29 year old denied all charges last month, claiming that he had been “framed”. He also believes that some of his former employees at Theodex, including two of his siblings, were “unlawfully” imprisoned.
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Farouk Fetih Ozer – the founder of once-leading Turkish cryptocurrency exchange Thodex – will spend seven months and 15 days in prison for failing to submit required documents to the tax inspection board.
It also faced allegations of fraud for siphoning off more than $2 billion in customer funds when the platform collapsed in 2021. While Ozer reportedly fled Turkey soon after the incident, he was arrested in Albania last summer. If found guilty in all the cases, his punishment could be even more severe.
Özer Maintain Your Innocence
As informed of Ozer’s case was heard at the Anatolian 17th Criminal Court of First Instance, where magistrates initially sentenced him to one and a half years in prison, according to Hürriyet Daily News. They later reduced the sentence based on its behaviour, social relations and the potential impact on his future.
Furthermore, the court postponed the announcement of the verdict against Ozer and postponed the implementation of the order.
Thodex’s founder once again claimed his innocence, pointing out that he was not a leader of the company at the time of the alleged crime. He said that a previously appointed trustee had prevented him from showing the requested records.
The legal process against Ozer began in October 2021 when the Turkish authorities urged him to produce some documents related to his activities at Theodex. The founders of the exchange failed to do so within the specified legal time limit.
their other problems
In addition to the above crime, Ozer faces several other charges that could send him to prison for the rest of his life.
Failed investors and prosecutors have insisted that they played a key role in Thodex’s collapse in the spring of 2021 when the platform ceased trading services. 400,000 customers were unable to withdraw their funds, while Ozer reportedly left the country with over $2 billion of users’ money.
The fugitive was detained in Albania in August 2022 after reportedly being on the run for more than a year. Albanian and Turkish officials negotiated his deportation, and he arrived In his homeland in April. If convicted, Ozer faces a ridiculous 40,000 years in prison.
29 year old denied all charges last month, claiming that he had been “framed”. He also believes that some of his former employees at Theodex, including two of his siblings, were “unlawfully” imprisoned.
Binance Free $100 (Exclusive): Use this link to register and get $100 free and 10% off fees 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.
