Ex-head of Turkey's largest crypto exchange given jail term

Ex-head of Turkey's largest crypto exchange given jail term

Author: Robert Strickland (crypto-journalist)

Ex-head of Turkey's largest crypto exchange given jail term
The ex-head of the Turkish crypto exchange Thodex, Faruk Fatih Ozer, received a prison sentence
Faruk Fatih Ozer denies all the accusations against him and claims he was framed

Three months after Faruk Fatih Ozer - founder and former head of cryptocurrency exchange Thodex - was detained in Turkey, he was sentenced to seven months and 15 days in prison for failing to provide documents to the Tax Inspectorate requested during the trial, Cointelegraph reports.

Ozer insisted on his innocence throughout the trial from October 30, 2021. He also denied that he was a Thodex official during that period, and this allegedly prevented him from providing the requested documents. He claimed that during that period of time, the business was conducted on his behalf by a manager.

Prosecutors originally sought a five-year prison sentence for Lake for smuggling under the tax laws.

In addition to the tax-related charges, Lakes was also accused of defrauding Thodex investors, a hearing on this case has not yet been held. Meanwhile, the entrepreneur continues to deny the allegations against him, claiming that he was framed.

Thodex is a Turkish cryptocurrency exchange founded in 2017. In April 2021, its founder Ozer suddenly left the country and the platform ceased operations. More than 2 thousand customers of Thodex sued her with accusations of fraud and theft of millions of dollars.

Other news

WSJ: Crypto-industry participants have started to prepare for the collapse of Binance
Binance is leaving Russia. Why it happened and what to do for its users
SEC once again postpones bitcoin-ETF decision
Unsubtle Optimism. How to make Ethereum faster and cheaper for everyone
JPMorgan has banned any cryptocurrency transactions for UK clients
Rapper Snoop Dogg was offered $194 for costing him $7 million NFT