Thodex founder sentenced to over 11,000 years for $2B crypto fraud

Thodex crypto exchange founder Faruk Fatih Özer sentenced to over 11,000 years in prison by Turkish court for fraud and money laundering
Özer fled Turkey in 2021 after abruptly halting Thodex services and disappearing with $2 billion in user assets
Özer was detained in Albania in 2022, extradited to Turkey in 2023 to face charges
Özer claimed in court Thodex just went bankrupt, denied criminal intent
21 defendants in Thodex case, Özer and siblings given longest sentences; 16 acquitted, 4 released

cointelegraph.com

Relevant topic timeline:

9/8/2023

Thodex Crypto Founder Sentenced to Over 11,000 Years for $2B Fraud

The founder of the collapsed Turkish crypto exchange Thodex and his siblings have been sentenced to 11,196 years in prison and a fine of $5 million for their involvement in the scam that left over 400,000 members without access to $2 billion in cryptocurrencies.

9/8/2023

Thodex Founder Sentenced to Over 11,000 Years for $2B Crypto Fraud

The founder of a failed Turkish cryptocurrency exchange, Faruk Fatih Özer, has been sentenced to an 11,196-year prison term for charges including fraud, money laundering, and operating a criminal organization, after users lost $2 billion worth of cryptocurrency when the exchange collapsed in 2021.