Market News

Turkish Cryptocurrency Tycoon Sentenced to 11,196 Years in Jail for Fraud, Reveals Public Radio of Armenia

Armenia, Cryptocurrency, Fraud, Jail, Public, Radio, Reveals, Sentenced, Turkish, Tycoon, Years

SEO Friendly News Article

A Turkish Cryptocurrency Boss and Siblings Sentenced to 11,196 Years in Jail for Fraud

The BBC reports that a Turkish cryptocurrency boss and his two siblings have been sentenced to 11,196 years each for defrauding investors of millions of dollars.


  • Faruk Fatih Ozer, 29, fled to Albania in 2021 after his Thodex exchange collapsed, taking investor assets with him.

Extradition and Verdict

  • Ozer was extradited back to Turkey in June and was found guilty of money-laundering, fraud, and organized crime.

Defendant’s Statement

  • Ozer claimed that he would not have acted so amateurishly if his intent was criminal.
  • He stated, “I am smart enough to lead any institution on Earth,” according to state media.

Leave a Comment