MARKETS INSIDER writes:
A Turkish court on Thursday found Faruk Fatih Ozer, the high-school dropout founder of failed cryptocurrency exchange Thodex, guilty of multiple charges including leading a criminal organisation, aggravated fraud, and money laundering.
He was sentenced to 11,196 years in prison, according to a Bloomberg report.
Ozer had founded his company in 2017 and it became one of Turkey’s largest crypto exchanges. In April 2021, the firm announced that it wasn’t able to continue operations, and Ozer fled to Albania. At the time, he did promise to repay investors, and then return to Turkey after he had done so.
Earlier this year, he was extradited to Turkey after an extended legal battle…
The full post is here.