Fatih Ozer, the mastermind behind collapsed Turkish cryptocurrency exchange Thodex, has been handed a staggering 11,196-year prison sentence for a series of crimes including fraud, money laundering, and leading a criminal organization. Ozer’s crypto exchange resulted in losses as high as $2.6 billion for investors.
Bloomberg reports that in a landmark ruling that has sent shockwaves through the cryptocurrency community, a Turkish court in Istanbul sentenced Faruk Fatih Ozer and his two siblings to jail terms exceeding 11,000 years each. The charges include aggravated fraud, leading a criminal organization, and money laundering.
Ozer, a high-school dropout who founded crypto exchange Thodex in 2017, appeared unrepentant during his final court hearing. “I am smart enough to lead any institution on Earth,” he was quoted as saying. “That is evident in this company I established at the age of 22. I wouldn’t have acted so amateurishly if this were a […]
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