Second Lawsuit Filed against Thodex Founder Faruk Fatih Özer
The founder of the cryptocurrency exchange Thodex, Faruk Fatih Özer, and 20 other defendants were indicted on March 31, 2022, with charges including “establishing and managing an organization for the purpose of committing crimes” and “information systems as tools of banks or credit institutions”. The indictment also requested prison sentences ranging from 12,164 years to 40,562 years for the crimes of “fraud by using the”. Faruk Fatih Özer was caught in Albania while being searched with a red notice.
At the verdict hearing on September 7, 2023, Faruk Fatih Özer, Güven Özer, and Serap Özer were sentenced to a total of 11,190 years in prison for the crimes of “qualified fraud”, “establishing, managing and being a member of an organization” and “laundering assets”. Faruk Fatih Özer was also sentenced to one month in prison.
The case has brought attention to the world of cryptocurrency and the potential for financial crimes within the industry. It serves as a reminder for the need for strong regulatory measures and oversight to prevent fraud and protect investors. The outcome of this case will likely have significant implications for how cryptocurrency exchanges and businesses are regulated in the future.
