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More than 11 years in prison for the "king" of cryptocurrencies, Faruk Fatih Ozer

Politiko 2023-09-08 12:19:17

More than 11 years in prison for the "king" of cryptocurrencies, Faruk

Faruk Fatih Ozer, who is the head of Crypto Exchange Thodex, has been sentenced to 11 years and 196 days in prison for numerous crimes including fraud, leading a criminal organization and money laundering.

The decision was given by the Turkish court, foreign media reports. The court in Istanbul also sentenced his two siblings to prison, finding them guilty of serious fraud.

Meanwhile, the media disclosed the testimony of the young Turkish man before the court.

 “I'm smart enough to lead any institution on Earth. This is evident in this company I created at the age of 22. I would not have acted so amateurishly if this was a criminal organization," he said before the judge.

The young Turkish man was declared internationally wanted, after the High Court of Istanbul in 2021 issued an arrest warrant against him, for the criminal offenses of "Creation of a criminal organization" and "Fraud with serious consequences".

 He is accused of defrauding 391,000 citizens, through cryptocurrencies, fraud with economic damage of 2 billion dollars.

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