{"id":7462,"date":"2023-09-09T02:11:12","date_gmt":"2023-09-09T02:11:12","guid":{"rendered":"https:\/\/latestnews.top\/2023\/09\/09\/cryptocurrency-boss-is-jailed-for-11196-years-in-turkey-after-defrauding-investors-of\/"},"modified":"2023-09-09T02:11:12","modified_gmt":"2023-09-09T02:11:12","slug":"cryptocurrency-boss-is-jailed-for-11196-years-in-turkey-after-defrauding-investors-of","status":"publish","type":"post","link":"https:\/\/latestnews.top\/cryptocurrency-boss-is-jailed-for-11196-years-in-turkey-after-defrauding-investors-of\/","title":{"rendered":"Cryptocurrency boss is jailed for 11,196 years in Turkey after defrauding investors of"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div id=\"js-article-text\" wp_automatic_readability=\"83.62820878494\">\n<h2>Cryptocurrency boss is jailed for 11,196 years in Turkey after defrauding investors of millions of dollars &#8211; after prosecutors called for a 40,562-year sentence<\/h2>\n<ul class=\"mol-bullets-with-font\">\n<li class=\"class\"><strong>\u00a0Faruk Faith Ozer, 29, founder of Thodex, was found guilty of\u00a0money laundering, fraud, and organised crime<\/strong><\/li>\n<\/ul>\n<p class=\"author-section byline-plain\">By <a target=\"_blank\" href=\"https:\/\/www.dailymail.co.uk\/home\/search.html?s=&#038;authornamef=Shivalika+Puri\" class=\"author\" rel=\"noopener\">Shivalika Puri<\/a> <\/p>\n<p class=\"byline-section\"><span class=\"article-timestamp article-timestamp-published\"> <span class=\"article-timestamp-label\">Published:<\/span> <time datetime=\"2023-09-08T17:12:55+0100\"> 12:12 EDT, 8 September 2023 <\/time><\/span> | <span class=\"article-timestamp article-timestamp-updated\"> <span class=\"article-timestamp-label\">Updated:<\/span> <time datetime=\"2023-09-09T02:17:16+0100\"> 21:17 EDT, 8 September 2023 <\/time><\/span> <\/p>\n<p> <!-- ad: https:\/\/mads.dailymail.co.uk\/v8\/us\/news\/none\/article\/other\/para_top.html --> <!-- CWV --><!--[if !IE]><!--> <link href=\"https:\/\/www.dailymail.co.uk\/static\/mol-fe\/static\/mol-fe-async-bundle\/7.2.2\/articleDefer.css\" media=\"all\" rel=\"stylesheet\" type=\"text\/css\" \/><!--<![endif]--><!--[if IE]>\n<link href=\"https:\/\/www.dailymail.co.uk\/static\/gunther\/1.17.0\/registration--.css\" media=\"screen\" rel=\"stylesheet\" type=\"text\/css\" \/>\n<![endif]--><!--[if !IE]><!--><link href=\"https:\/\/www.dailymail.co.uk\/static\/gunther\/17.18.0\/registration--.css\" media=\"all\" rel=\"stylesheet\" type=\"text\/css\" \/><!--<![endif]--><!--[if IE]>\n<link href=\"https:\/\/www.dailymail.co.uk\/static\/gunther\/1.17.0\/all-ie8-9--.css\" media=\"all\" rel=\"stylesheet\" type=\"text\/css\" \/>\n<link href=\"https:\/\/www.dailymail.co.uk\/static\/gunther\/1.17.0\/all1-ie8-9--.css\" media=\"all\" rel=\"stylesheet\" type=\"text\/css\" \/>\n<![endif]--><!--[if !IE]><!--><link href=\"https:\/\/www.dailymail.co.uk\/static\/mol-fe\/static\/mol-fe-sync-bundle\/9.6.2\/desktop.css\" media=\"all\" rel=\"stylesheet\" type=\"text\/css\" \/><link href=\"https:\/\/www.dailymail.co.uk\/static\/gunther\/17.18.1\/all--.css\" media=\"all\" rel=\"stylesheet\" type=\"text\/css\" \/><link href=\"https:\/\/www.dailymail.co.uk\/static\/gunther\/17.18.1\/all1--.css\" media=\"all\" rel=\"stylesheet\" type=\"text\/css\" \/><!--<![endif]--><!--[if gte IE 8]><!--><link rel=\"stylesheet\" type=\"text\/css\" media=\"screen\" href=\"https:\/\/www.dailymail.co.uk\/static\/mol-fe\/static\/mol-fe-fff\/2.4.1\/styles\/fff.css\" \/><!--<![endif]--><!--[if IE 8]>\n\n<![endif]--><!--[if IE 9]>\n\n<![endif]--><!--[if IE]>\n\n<![endif]--><!--[if !IE]> --><!--<![endif]--><!-- SiteCatalyst code version: H.20.3.\n    Copyright 1997-2009 Omniture, Inc. More info available at\n    http:\/\/www.omniture.com --><!-- End SiteCatalyst code version: H.20.3. --><!--[if IE]>\n\n<![endif]--><!--[if !IE]> --><!--<![endif]--><!--[if IE]>\n  \n  <noscript><link rel=\"stylesheet\" href=\"https:\/\/www.dailymail.co.uk\/static\/gunther\/gunther-2159\/video_bundle--.css\"><\/noscript>\n  \n<![endif]--><!--[if !IE]> --><link rel=\"preload\" href=\"https:\/\/www.dailymail.co.uk\/static\/videoplayer\/7.2.0\/styles\/mol-fe-videoplayer.min.css\" as=\"style\" onload=\"this.rel=\" stylesheet=\"\" \/><noscript><link rel=\"stylesheet\" href=\"https:\/\/www.dailymail.co.uk\/static\/videoplayer\/7.2.0\/styles\/mol-fe-videoplayer.min.css\" \/><\/noscript>  <!-- <![endif]-->   <!-- CWV --><\/p>\n<div itemprop=\"articleBody\" wp_automatic_readability=\"63.165452653486\">\n<p class=\"mol-para-with-font\">A cryptocurrency boss has been jailed for more than 11,000 years after swindling investors out of millions of dollars.<\/p>\n<p class=\"mol-para-with-font\">Faruk Faith Ozer, founder of Thodex, was sentenced to 11,196 years in prison despite prosecutors request for a 40,562-year sentence.<\/p>\n<p class=\"mol-para-with-font\">The Turkish high school dropout was 22 when he started his own business, but on Thursday he was found guilty of money laundering, fraud, and organised <a target=\"_blank\" style=\"font-weight: bold;\" href=\"https:\/\/www.dailymail.co.uk\/news\/crime\/index.html\" id=\"mol-271f7a80-4e62-11ee-8005-a7bd7047b4f6\" rel=\"noopener\">crime<\/a>.<\/p>\n<p class=\"mol-para-with-font\">It comes after the 29-year-old<a target=\"_blank\" style=\"font-weight: bold;\" class=\"class\" href=\"https:\/\/www.dailymail.co.uk\/news\/article-9504607\/International-arrest-warrant-issued-cryptocurrency-founder-fled-Turkey-investors-cash.html\" rel=\"noopener\"> fled to Albania in 2021 with investor funds following the collapse of his business.<\/a><\/p>\n<p class=\"mol-para-with-font\">However, after <a target=\"_blank\" style=\"font-weight: bold;\" href=\"https:\/\/www.dailymail.co.uk\/news\/interpol\/index.html\" id=\"mol-f56e84d0-4e5d-11ee-92fc-6f638a823b6b\" class=\"class\" rel=\"noopener\">Interpol<\/a> issued a red notice for him, Ozer was located after two years on the run.<\/p>\n<div class=\"artSplitter mol-img-group\" style=\"style\" wp_automatic_readability=\"8\">\n<div class=\"mol-img\">\n<div class=\"image-wrap\"> <img fetchpriority=\"high\" decoding=\"async\" id=\"i-68122afbdcd72541\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/09\/08\/16\/75222115-12496729-image-a-16_1694188066417.jpg\" height=\"407\" width=\"634\" alt=\"Faruk Faith Ozer was sentenced to\u00a011,196 years in prison at a Turkish court\" class=\"blkBorder img-share\" style=\"max-width:100%\" \/><\/div>\n<p> <noscript> <img decoding=\"async\" id=\"i-68122afbdcd72541\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/09\/08\/16\/75222115-12496729-image-a-16_1694188066417.jpg\" height=\"407\" width=\"634\" alt=\"Faruk Faith Ozer was sentenced to\u00a011,196 years in prison at a Turkish court\" class=\"blkBorder img-share\" \/><\/noscript> <\/div>\n<p class=\"imageCaption\">Faruk Faith Ozer was sentenced to\u00a011,196 years in prison at a Turkish court\u00a0<\/p>\n<\/div>\n<p class=\"mol-para-with-font\">Authorities immediately extradited him back to his home country, where he faced criminal charges.<\/p>\n<p class=\"mol-para-with-font\">According to state media, it is believed that Ozer took $2 billion (\u00a31.6 billion) from his customers before he went into hiding in Albania.<\/p>\n<p class=\"mol-para-with-font\">But the total amount of damages experienced by investors when Thodex went bankrupt is unknown.<\/p>\n<p class=\"mol-para-with-font\">According to the <a target=\"_blank\" style=\"font-weight: bold;\" class=\"class\" rel=\"nofollow noreferrer noopener\" href=\"https:\/\/www.aa.com.tr\/tr\/gundem\/thodexin-kurucusu-faruk-fatih-ozerin-dolandiricilik-davasinda-karar\/2986295\">Anadolu agency<\/a>, Ozer told the court: &#8220;I am smart enough to manage all institutions in the world. This is evident from the company I founded at the age of 22. If I were to establish a criminal organisation, I would not act so amateurishly.&#8221;<\/p>\n<div class=\"artSplitter mol-img-group\" style=\"style\" wp_automatic_readability=\"8\">\n<div class=\"mol-img\">\n<div class=\"image-wrap\"> <img decoding=\"async\" id=\"i-f5da2b20ad6aaa4e\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/09\/08\/16\/75222113-12496729-image-a-17_1694188080996.jpg\" height=\"423\" width=\"634\" alt=\"Ozer went into hiding after his business collapsed in 2021 but he was located in Albania two years later\" class=\"blkBorder img-share\" style=\"max-width:100%\" \/><\/div>\n<p> <noscript> <img loading=\"lazy\" decoding=\"async\" id=\"i-f5da2b20ad6aaa4e\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/09\/08\/16\/75222113-12496729-image-a-17_1694188080996.jpg\" height=\"423\" width=\"634\" alt=\"Ozer went into hiding after his business collapsed in 2021 but he was located in Albania two years later\" class=\"blkBorder img-share\" \/><\/noscript> <\/div>\n<p class=\"imageCaption\">Ozer went into hiding after his business collapsed in 2021 but he was located in Albania two years later\u00a0<\/p>\n<\/div>\n<p class=\"mol-para-with-font\">At an Istanbul court, Ozer, recived the hefty sentence alongside his sister Serap and brother Guven who were also found guilty of the same charges.<\/p>\n<p class=\"mol-para-with-font\">This lengthy sentence would be a shock to some people, but in Turkey, it&#8217;s quite common.<\/p>\n<p class=\"mol-para-with-font\">This legislation became more frequent after Turkey abolished the death penalty in 2004 in the hope of becoming part of the European Union.<\/p>\n<p class=\"mol-para-with-font\">In 2022, Adnan Oktar, a cult leader, was sentenced to 8,658 years in prison on several charges, including sexual abuse and depriving someone of their liberty.<\/p>\n<\/div>\n<p>            <!-- ad: https:\/\/mads.dailymail.co.uk\/v8\/us\/news\/none\/article\/other\/inread_player.html --><\/p>\n<div class=\"column-content cleared\">\n<div class=\"shareArticles\">\n<h3 class=\"social-links-title\">Share or comment on this article:<br \/>\n                        <\/h3>\n<\/p><\/div><\/div>\n<p>            <ad-slot position=\"smart_feed\"><\/ad-slot><ad-slot position=\"after_article\"><\/ad-slot><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.dailymail.co.uk\/news\/article-12496729\/Cryptocurrency-boss-jailed-11-196-years-Turkey-defrauding-investors-millions-dollars-prosecutors-called-40-562-year-sentence.html?ns_mchannel=rss&#038;ns_campaign=1490&#038;ito=1490\" target=\"_blank\" rel=\"noopener\">Read More<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cryptocurrency boss is jailed for 11,196 years in Turkey after defrauding investors of millions of dollars &#8211; after prosecutors called for a 40,562-year sentence \u00a0Faruk Faith Ozer, 29, founder of Thodex, was found guilty of\u00a0money laundering, fraud, and organised crime By Shivalika Puri Published: 12:12 EDT, 8 September 2023 | Updated: 21:17 EDT, 8 September [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7463,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[17],"tags":[432,101,11312,23,11378,11377,5105,7094,47,3030,202],"acf":{"source_article":"","image_credit":""},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/latestnews.top\/wp-json\/wp\/v2\/posts\/7462"}],"collection":[{"href":"https:\/\/latestnews.top\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/latestnews.top\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/latestnews.top\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/latestnews.top\/wp-json\/wp\/v2\/comments?post=7462"}],"version-history":[{"count":0,"href":"https:\/\/latestnews.top\/wp-json\/wp\/v2\/posts\/7462\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/latestnews.top\/wp-json\/wp\/v2\/media\/7463"}],"wp:attachment":[{"href":"https:\/\/latestnews.top\/wp-json\/wp\/v2\/media?parent=7462"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/latestnews.top\/wp-json\/wp\/v2\/categories?post=7462"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/latestnews.top\/wp-json\/wp\/v2\/tags?post=7462"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}