Turkey Seeks 40,000-year Jail Sentences For Thodex Crypto Exchange CEO and 21 Officials
A prosecutor in Turkey has requested jail sentences of up to 40,564 years for 21 officials of the Istanbul-based Thodex cryptocurrency exchange, almost a year after it was shut down and its CEO disappeared.
CEO Faruk Fatih Ozer, 28, was spotted in airport footage last April. Turkish police have not been able to locate him, despite the fact that he is wanted under a red notice, according to Interpol.
According to Bloomberg News, the accusation charges the defendants with creating a criminal organization, committing fraud, and laundering money. Thodex was a part of the Turkish cryptocurrency bubble, which drew investors looking to secure their money from inflation and a falling currency.
According to the accusation, total losses at the exchange were around $24 million, whereas a February investigation by Chainalysis estimated losses at $2.6 billion. Ozer stated in a statement published last April from an unknown location that he would repay investors and return to Turkey. Turkish authorities detained 62 individuals in the initial investigation last year. According to Turkish authorities, Ozer fled to Tirana, Albania.
DISCLAIMER:Â The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
KAZ
CoinCu News
Author
News, Scam Alert
Turkey Seeks 40,000-year Jail Sentences For Thodex Crypto Exchange CEO and 21 Officials
A prosecutor in Turkey has requested jail sentences of up to 40,564 years for 21 officials of the Istanbul-based Thodex cryptocurrency exchange, almost a year after it was shut down and its CEO disappeared.
CEO Faruk Fatih Ozer, 28, was spotted in airport footage last April. Turkish police have not been able to locate him, despite the fact that he is wanted under a red notice, according to Interpol.
According to Bloomberg News, the accusation charges the defendants with creating a criminal organization, committing fraud, and laundering money. Thodex was a part of the Turkish cryptocurrency bubble, which drew investors looking to secure their money from inflation and a falling currency.
According to the accusation, total losses at the exchange were around $24 million, whereas a February investigation by Chainalysis estimated losses at $2.6 billion. Ozer stated in a statement published last April from an unknown location that he would repay investors and return to Turkey. Turkish authorities detained 62 individuals in the initial investigation last year. According to Turkish authorities, Ozer fled to Tirana, Albania.
DISCLAIMER:Â The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
KAZ
CoinCu News
Other Posts
Related Posts
Latest
Why Qubetics, NEAR Protocol, and IMX Are Dominating Crypto: The Best Altcoins to Join Today for Game-Changing ReturnsÂ
Bonk’s ICO Was Just the Start: Why BTFD Coin’s Stage 7 Price Rollback Is Your Second Shot at Crypto Glory
Decoding BDAG’s AMA: A Blueprint for Scalable Blockchain and Enhanced Community Ties
Press Release
Why Qubetics, NEAR Protocol, and IMX Are Dominating Crypto: The Best Altcoins to Join Today for Game-Changing ReturnsÂ
Bonk’s ICO Was Just the Start: Why BTFD Coin’s Stage 7 Price Rollback Is Your Second Shot at Crypto Glory
