A Turkish court canceled a previous verdict that the CEO of Thodex, Faruk Fatih Özer and his two brothers, were guilty of creating a criminal organization. The court canceled guilt for 16 defendants, but only 4 of them were completely acquitted and released.
Faruk and the Özer brothers were sentenced to 11 196 years for accusations such as aggravated fraud and money laundering in addition to this accusation of organized crime. They will stay in prison, although they will require a new trial.
Faruk Özer thodex shoot
Faruk Fatih Özer founded the Thodex exchange with his brothers Güven and Serap, and they committed one of the greatest carpets in the history of the crypto. Together, they would have stolen about $ 2 billion in crypto, and Faruk generally remained after the arrest of his brothers.
However, in 2022, he was taken in Albania and then extradited to Turkey.
This monumental flight had an impact on hundreds of thousands of users and damaged the broader reputation of the industry, the prosecutors therefore tried to launch the book on these brothers. They tried to give Faruk and 20 other sentences of Thodex employees up to 40,000 years.
These men were found guilty and the former CEO was sentenced to 11,196 years of age. However, this conviction did not end the legal battle.
According to local media, an appeal launched by Faruk and the other Thodex leaders finally gave results. The 22nd criminal chamber of the Istanbul Regional Court of Justice has canceled several of these convictions.
This week, 16 defendants were authorized for the accusation of aggravated fraud and four were released. The Özer brothers, however, were not so lucky.
“Cancel the local verdict of the local court, the Chamber judged that the defendants Faruk Fatih Özer, Güven Özer and Serap Özer be released separately to establish a criminal organization. The Chamber said the defendants should remain in detention for other crimes and refer the file to the local court, “said local reports.
In other words, Faruk and the higher level Thodex leaders are always on the hook. Nevertheless, the legal team of the Özer brothers requests a new trial, alleging that the perception of the public and the accounts of the media contributed to the long punishment.
For example, although reports initially called for theft of around $ 2 billion, today’s accusation said that they only stole $ 7 million.
“Those who want to become rich during the night in the crypto will be scammed by Thodex. They buy the actions of companies whose value is unknown at inflated prices on the stock market and goes bankrupt, “wrote the popular Turkish investor Efe Yakup Karahanlı in 2024.
For the moment, we do not know exactly how long Faruk Özer and the other Thodex employees will stay in prison. For example, some of the lesser charges named have still counted sentences from 6 to 18 years old.
There is a chance that some of these men will be released from prison during their lives, but even this is unlikely.
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