
Thodex exchange founder extradited to Turkey, faces criminal charges
If convicted by Turkish courts, Faruk Fatih Ozer, CEO of defunct Thodex exchange, could face over 10 years in prison and disgorgement of illicit gains.
If convicted by Turkish courts, Faruk Fatih Ozer, CEO of defunct Thodex exchange, could face over 10 years in prison and disgorgement of illicit gains.
Faruk Fatih Özer disappeared in 2021 from Turkey, allegedly taking off with over $2 billion worth of digital assets from 400,000 users, some of which he cashed out on Kraken.
The indictment by Turkish prosecutors also seeks similar sentences for 20 other defendants whom it charges with informatics systems fraud and money laundering.
Senior government officials in Turkey are considering establishing a centralized authority to tackle counterparty risk in digital currency transactions, after employees were arrested at Vebitcoin and Thodex.
Thodex exchange is suspected of taking $2 billion from close to 400,000 investors in Turkey, according to reports.