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Former crypto CEO faces up to over 40,400 years in jail for fraud in Türkiye

Former crypto CEO faces up to over 40,400 years in jail for fraud in Türkiye


Former crypto CEO faces up to over 40,400 years in jail for fraud in Türkiye

Faruk Fatih Özer, the founder and CEO of the collapsed crypto change Thodex, is being delivered to Istanbul Police Department, in Istanbul, Türkiye, April 20, 2023. (AA Photo)

Faruk Fatih Özer, the founder and CEO of the collapsed cryptocurrency change Thodex, is dealing with as much as 40,462 years in jail in Türkiye over fraud and cash laundering.

The listening to on the Anatolian ninth High Criminal Court in Istanbul on Tuesday was attended by 5 detained defendants, together with Özer, and a number of the complainants and the legal professionals of the events.

The prosecutors demanded a jail sentence for Özer from 12,142 to 40,462 years for “establishing an organization with the aim of committing a crime”, “fraud by using information systems, banks or credit institutions as tools” and “laundering the assets of merchants or company managers and cooperative managers resulting from fraud and crime.”

Wanted on a crimson discover, Özer was apprehended in Albania on Aug. 30, 2022.

Özer, 27, fled Türkiye final yr and left buyers unable to entry their funds.

Türkiye issued a global arrest warrant after he reportedly fled the nation with at the very least $2 billion price of cryptocurrency stolen from Thodex.

Source: www.anews.com.tr