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 <p><span style="font-weight: 400">The founder and CEO of the failed Turkish cryptocurrency exchange Thodex, has been sentenced to 11,196 years in prison.&nbsp;</span></p> 
 <p><span style="font-weight: 400">Faruk Fatih Ozer was charged with aggravated fraud, leading a criminal organization, and money laundering, according to </span><span style="font-weight: 400">local media reports</span><span style="font-weight: 400">. He professed his innocence during the trial, claiming that he and his family were unjustly targeted.&nbsp;</span></p> 
 <p><span style="font-weight: 400">Once a leading crypto platform in Turkey, Thodex collapsed in 2021. Ozer fled the country, leaving the exchange with estimated losses of more than $2 billion. He was </span><span style="font-weight: 400">arrested in Albania</span><span style="font-weight: 400"> in August last year and extradited to Turkey in April.&nbsp;</span></p> 
 <p>Ozer remained unrepentant, and dismissed the charge that he led a criminal organization.</p> 
 <p><span style="font-weight: 400">“I am smart enough to manage all institutions in the world,” he said. “This is evident from the company I founded at the age of 22. If I were to establish a criminal organization, I would not act so amateurishly. </span><span style="font-weight: 400">Thodex was just a company and went bankrupt.”</span></p> 
 <p><img decoding="async" class=" wp-image-437573" style="font-weight: bold;background-color: var(--bs-body-bg);color: var(--bs-body-color);font-family: var(--bs-body-font-family);font-size: var(--bs-body-font-size);text-align: var(--bs-body-text-align)" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%20822%20463'%3E%3C/svg%3E" alt="Founder of the Thodex platform, Faruk Fatih Özer, is arraigned in Albanian Court" width="822" height="463" data-lazy-srcset="https://cdn.thebittimes.com/images/2023/09/09/b8ef39dd2c769fffaf8340aa173bcdca.webp 300w, https://cdn.thebittimes.com/images/2023/09/09/b8ef39dd2c769fffaf8340aa173bcdca.webp 768w, https://cdn.thebittimes.com/images/2023/09/09/b8ef39dd2c769fffaf8340aa173bcdca.webp 269w, https://cdn.thebittimes.com/images/2023/09/09/b8ef39dd2c769fffaf8340aa173bcdca.webp 864w" data-lazy-sizes="(max-width: 822px) 100vw, 822px" data-lazy-src="https://cdn.thebittimes.com/images/2023/09/09/b8ef39dd2c769fffaf8340aa173bcdca.webp"> 
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 <p>Founder of Thodex, Faruk Fatih Özer, is arraigned in Albanian Court<span style="font-weight: 400">The trial involved a total of 21 defendants, facing the possibility of a combined 40,564 years in prison, local reports said. Sixteen of the defendants were acquitted, four of seven individuals initially detained were released due to a lack of evidence, while the remaining defendants received various prison sentences. </span></p> 
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/thodex-crypto-exchange-founder-sentenced-to-11-169-years-in-turkish-jail-tbt62092.html">https://thebittimes.com/thodex-crypto-exchange-founder-sentenced-to-11-169-years-in-turkish-jail-tbt62092.html</a></p>

Thodex Crypto Exchange Founder Sentenced to 11,169 Years in Turkish Jail

TheBitTimes

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