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Cryptocurrency CEO Sentenced to 11,196 Years in Prison for Fraud: A Landmark Verdict in the World of Digital Currencies

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Turkish Cryptocurrency CEO and Brothers Sentenced to 11,196 Years in Prison

Turkish Cryptocurrency CEO and Brothers Sentenced to 11,196 Years in Prison


Three individuals, including a Turkish cryptocurrency CEO and his two brothers, have been sentenced to 11,196 years in prison each for cheating investors out of millions of dollars. The CEO, Faruk Fatih Ozer, 29, had escaped to Albania after his Thodex exchange suddenly crashed in 2021, taking investor funds with him. However, he was later deported back to Turkey and found guilty of various crimes, along with his siblings.

The Escape and Deportation

Following the collapse of the Thodex exchange, Faruk Fatih Ozer fled to Albania, leaving investors in a state of shock and financial distress. However, his escape was short-lived as he was eventually deported back to Turkey to face justice.

The Conviction

In June, Faruk Fatih Ozer was convicted guilty of organised crime, fraud, and money laundering. His brother Guven and sister Serap were also found guilty of the same crimes during the trial held in Istanbul.

Unusual Jail Sentences

According to Turkish media, the defendants received individual sentences for the numerous offences committed against 2,027 victims. The total number of years in the verdict added up to 11,196 years, reflecting the severity of their actions. It is worth noting that since the death penalty was abolished in Turkey in 2004, such unusually long jail sentences have become more prevalent.

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