Turkish Crypto CEO Sentenced to Over 11,000 Years in Prison for Financial Embezzlement: Latest Updates

Turkish Court Sentences Thodex CEO to Over 11,000 Years in Prison

Today, Thursday evening, the Turkish judiciary issued an unusual court ruling against the founder and CEO of the Turkish cryptocurrency trading platform Thodex, Faruk Fatih Ozer.

The ruling stipulates that Osiris will be imprisoned for 11,196 years, 10 months and 15 days after he proves allegations of financial embezzlement brought by him against the merchants through his company.

Turkish authorities removed the aforementioned man from Albania on April 20 after he fled there following the bankruptcy of his virtual currency trading platform.

Albanian Ministry of Justice Decides to Return Ozer to Turkey

The Albanian Ministry of Justice decided to return Ozer to Turkey.

And the Turkish Ministry of Internal Affairs announced at the end of August last 2022 the arrest of Ozer, when he was in Albania, and the beginning of procedures for his return to Turkey.

Investigation Reveals Financial Irregularities

Turkish prosecutors launched an investigation on April 22, 2021 following reports that Thodex customers were unable to access their accounts on the platform amid news that the founder of the company had fled abroad.

Subsequently, the investigation showed that Osiris fled the country on April 20, 2021, having two billion dollars in accounts of 391,000 accounts on his platform, so that on the 23rd of the same month, the Interpol agency issued a decision to bring him to justice with red notice.

Source: RT

Related Stories