{"id":84179,"date":"2023-09-08T10:47:01","date_gmt":"2023-09-08T07:47:01","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=84179"},"modified":"2025-09-12T15:46:24","modified_gmt":"2025-09-12T12:46:24","slug":"former-thodex-chief-sentenced-to-11196-years-in-prison","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/former-thodex-chief-sentenced-to-11196-years-in-prison\/","title":{"rendered":"Former Thodex chief sentenced to 11,196 years in prison"},"content":{"rendered":"<p>A court in Turkey has concluded proceedings against the founder and former CEO of the cryptocurrency exchange Thodex, Faruk Fatih \u00d6zer, along with his sister and brother. Local media <a href=\"https:\/\/www.ntv.com.tr\/turkiye\/thodex-davasinda-karar-cikti-faruk-fatih-ozere-rekor-ceza,J5Y7EqUTAkKOyZi_tSVEoA\">report<\/a>.<\/p>\n<p>According to charges, including fraud and money laundering, they were sentenced to 11,196 years, 10 months and 15 days in prison each. The court also imposed a fine of 135 million lira (about $5 million).<\/p>\n<p>An acquittal was issued for 16 of the 21 defendants. Four people were released from prison due to lack of evidence; the others received various sentences.<\/p>\n<p>On 20 April 2021, Thodex <a href=\"https:\/\/u1f987.com\/en\/news\/turkish-bitcoin-exchange-suspected-of-exit-scam\">suddenly halted trading<\/a>. Initially, the platform cited maintenance work, but later said it was transferring the business to a \u201cmajor partner,\u201d which allegedly would take 4-5 days. Users were concerned by the company&#8217;s closure of social-media accounts.<\/p>\n<p>As part of the investigation into the alleged exit scam, authorities <a href=\"https:\/\/u1f987.com\/en\/news\/sixty-two-detained-in-turkey-over-ties-to-thodex-crypto-exchange\">issued arrest warrants for 78 people<\/a> connected to the platform. The majority of the suspects have been detained.<\/p>\n<p>\u00d6zer stated that he did not intend to flee. However, according to <a href=\"https:\/\/www.reuters.com\/article\/uk-turkey-crypto-idUSKBN2CA0QA\">Reuters<\/a>, on the day trading halted on Thodex he <a href=\"https:\/\/u1f987.com\/en\/news\/former-head-of-turkish-crypto-exchange-thodex-arrested-in-albania\">was detained<\/a> by local authorities.<\/p>\n<p>Earlier in April 2023, the exchange&#8217;s former CEO <a href=\"https:\/\/u1f987.com\/en\/news\/former-head-of-thodex-cryptocurrency-exchange-extradited-to-turkey\">extradited<\/a> to Turkey.<\/p>\n<p>Earlier, the local prosecutor&#8217;s office charged \u00d6zer and 20 other defendants with creating a criminal organisation, fraud and money laundering. For them, <a href=\"https:\/\/u1f987.com\/en\/news\/prosecutor-seeks-more-than-40564-years-in-prison-for-thodex-ceo-and-20-others-over-exit-scam\">prosecutors sought more than 40,000 years<\/a> in prison.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A court in Turkey has concluded proceedings against the founder and former CEO of the Thodex cryptocurrency exchange, Faruk Fatih \u00d6zer, and his sister and brother.<\/p>\n","protected":false},"author":1,"featured_media":84180,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1166,1162,1154,920],"class_list":["post-84179","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-centralized-exchanges-cex","tag-court-cases","tag-crimes","tag-turkey"],"aioseo_notices":[],"amp_enabled":true,"views":"52","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/84179","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=84179"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/84179\/revisions"}],"predecessor-version":[{"id":84181,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/84179\/revisions\/84181"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/84180"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=84179"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=84179"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=84179"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}