Missing Thodex CEO May Face 40,000+ Years Behind Bars in New Indictment

Written by:
Jagajeet Chiba
Published on:

In a new indictment filed against Thodex CEO Faruk Fatih Ozer and 21 defendants, a Turkish prosecutor is recommending more than 40,000 years behind bars.   And that sentence is not a total, it would be for each of these individuals.


Ozer is accused of disappearing with around $24 million in user funds from the crypto exchange, which ceased operating a year ago.  Actual losses may be as much as $2.6 billion.

Ozer, and his accomplices have been charged with creating a criminal organisation, fraud and money laundering.

Investors had sought out Thodex as a safe haven amidst inflation concerns around the national fiat currency, the Turkish Lira.

Serap Ozer, one of Faruk Ozer’s two brothers, told local Turkish media that his brother is planning to either find a partner or sell the company in order to pay investors back.

- Jagajeet Chiba, Gambling911.com

Business/Financial News