Fatih Özer, the founding father of the failed crypto trade Thodex, has been sentenced to 11,196 years, equal to 466 life sentences, in Turkish jail, Bloomberg reported on Sept. 7.
Özer was sentenced alongside his brother Güven Özer and sister Serap Özer for fraud, amongst different associated crimes corresponding to organizing and managing prison organizations, laundering of prison proceeds, and others.
The court docket additionally imposed a nice of 135 million liras ($5 million roughly) on the defendants.
The three had been a part of the 21 defendants charged by Turkish authorities for the failure of Thodex. The trade was one of many greatest within the nation earlier than it immediately went offline in April 2021.
This affected greater than 400,000 customers who misplaced entry to about $2 billion of their crypto deposits. Özer initially escaped to Albania, however an Interpol Crimson Discover ensured his arrest in August 2022.
In the meantime, 16 of the 21 defendants had been acquitted, whereas 4 of these already jailed had been launched for lack of proof. The remaining bought numerous jail phrases.
Nonetheless, Özer maintained his innocence even on the time of conviction. In response to him, he was not operating a prison group. He reportedly stated:
“Thodex is only a firm and went bankrupt. There is no such thing as a point out of a prison group in Thodex.”
A life imprisonment conviction in Turkey has a minimal time period of 24 years.
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