Thodex cryptocurrency boss jailed for 11,196 years in Turkey for fraud

[Eugene]

Source: BBC

Thodex cryptocurrency boss jailed for 11,196 years in Turkey for fraud

8 September 2023

A Turkish cryptocurrency boss and his two siblings have been jailed for 11,196 years each for defrauding investors of millions of dollars.

Faruk Fatih Ozer, 29, fled to Albania in 2021 with investor assets after his Thodex exchange suddenly collapsed.

He was extradited back to Turkey in June and found guilty of money-laundering, fraud and organised crime.

-snip-

Ozer gained national fame as a financial whizz and ingratiated his way into the establishment by befriending prominent pro-government figures.

However, the platform suddenly imploded in April 2021. Investor assets disappeared and Ozer went into hiding.

-snip-

Read more: https://www.bbc.com/news/world-europe-66752785


Faruk Fatih Ozer fled Turkey after Thodex's collapse (Getty Images)

[wcmagumba]

1. He's taking the freaking "Midnight Express" forever....nt

[keithbvadu2]

2. The big money return in crypto is:::

The big money return in crypto is:::
1. Starting it, hyping it, and getting out, leaving the
suckers holding the bag.
2. Handling/storing it for others.
...a. Not your own money/crypto. Someone else's money/crypto.
...b. Lots of fraud/money manipulation/theft/lack of regulation.
3. Backed by trust/faith/great promises/optimism... but no
real assets.
4. It can literally disappear and good luck with lawsuits.
------------------
A few have profited by 'investing' but not the majority.

[2naSalit]

3. As far as I can tell...

That's it in a nutshell.