Faruk Fetih Ozer – the founding father of one-time main Turkish cryptocurrency trade Thodex – will spend seven months and 15 days in jail for failing to submit required paperwork to the Tax Inspection Board.
He additionally confronted fraud allegations of pocketing greater than $2 billion in shopper funds when the platform collapsed in 2021. Whereas Auzer is believed to have fled to Turkey shortly after the incident, he was arrested in Albania final summer time. If convicted on all counts, the punishment may very well be extra extreme.
Ozer maintains his innocence
as knowledgeable In line with Hurriyet Day by day Information, Ozer’s case was heard on the Anatolian seventeenth Legal Courtroom of First Occasion, the place magistrates initially sentenced him to 1 and a half years in jail. They later decreased the sentence primarily based on his habits, social relationships and the potential affect on his future.
Additional, the courtroom postponed the announcement of the judgment towards Ozer and stayed the execution of the order.
The founding father of Thodex as soon as once more claimed his innocence, explaining that he was not the chief of the corporate on the time of the alleged crime. He added that the beforehand appointed trustee prevented him from exhibiting the requested data.
Authorized proceedings towards Ozer started in October 2021 when Turkish authorities requested him to supply a number of paperwork associated to his actions at Thodex. The founders of the trade failed to take action inside the specified authorized timeframe.
Its different issues
Along with the above crime, Ozer faces a number of different costs that would land him in jail for the remainder of his life.
Failed buyers and prosecutors have insisted that they performed a key function in Thodex’s collapse in spring 2021 when the platform stopped buying and selling companies. 400,000 prospects had been unable to withdraw their funds, whereas Özer reportedly left the nation with greater than $2 billion of customers’ cash.
The fugitive was detained in Albania in August 2022 after being reported to have been on the run for greater than a yr. Albanian and Turkish officers negotiated his deportation, and he arrived in his hometown in April. If convicted, Ozer faces a ridiculous 40,000 years in jail.
The 29-year-old denied All costs final month, claiming he was “framed”. He additionally believes that a few of his former staff at Thodex, together with two of his siblings, had been “unlawfully” imprisoned.
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