![Faruk Fatih Ozer Thodex exchange founder, Faruk Fatih Ozer](https://coingeek.com/wp-content/uploads/2023/04/Faruk-Fatih-Ozer-380x188.webp)
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.
The Turkish central bank announced that it had conducted the first successful transactions on the digital lira and said it would involve banks in phase 2.
The two-day event in Turkey tarts on November 15 and will feature experts including Dr. Craig Wright, Latif Ladid, and more.
The conference is aimed at developers, entrepreneurs, and students at Turkey’s top universities and will be held at the TİM Show Centre in Istanbul on 15 and 16 November.
Turkey is slated to roll out its digital lira in 2023 as part of its goal to reach the unbanked 40% of the population, but several analysts doubt the methods put in place will trigger adoption.
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.
The Financial Crimes Investigation Board (MASAK) imposed a fine of 8 million lira ($750,000) on Binance’s local unit BN Teknoloji after it was found the exchange violated anti-money laundering requirements.
Three domestic partners were identified and invited to sign a memorandum of understanding with the bank, whose goal is to develop the “Digital Turkish Lira Collaboration Platform."
The country’s Ministry of Finance has finalized a digital currency bill that it would propose to parliament in October, in a bid to protect investors and prevent money laundering.
BtcTurk had initially denied the hack, but after hackers started posting some of the data they accessed, the exchange was forced to come clean.
The measures were announced by the Minister of Treasury and Finance Lütfi Elvan, putting the Financial Crimes Investigation Board, or MASAK, at the heart of enforcement of the rules.