A prosecutor from Turkey is demanding 40,000-year imprisonment for 21 respondents linked to the crypto exchange named Thodex, as per the indictment submitted on Thursday. The Turkey-based Thodex declared in the previous April that the venue thereof had been briefly shut down to tackle the malfunction in the accounts of the firm whereas Faruk Fatih Ozer – the CEO and founder thereof – fled to Albania with more than $2B worth out of the funds of investors.
Simultaneously, the consumers of the exchange protested that they were not permitted to take out their crypto funds, while Ozer disappeared and declined to talk to anyone. More than 400,000 customers (390,000 of which were active) were being hosted by Thodex when the earliest complaint was submitted. Authorities of Turkey even now have a functional international warrant implemented to carry out the arrest of Ozer.
In this respect, a red notice warrant has been issued on the behalf of Interpol for Ozer’s arrest. In addition to this, the siblings of Ozer have in advance been imprisoned due to being involved in participation as well as association with Thodex. Along with them, more than 62 other people (who are suspected to have some engagement with the matter) have also been arrested in eight cities throughout the country in which Istanbul is included.
The recently submitted indictment notes that the prosecutor is demanding the imprisonment penalty of nearly 40,564 years in case of every among the 21 respondents, as per Bloomberg. Each among the respondents has been accused of laundering the funds gathered through the crime, defrauding by cooperative managers, as well as company managers or traders, creating as well as managing an institution to purposefully committing the criminal activity, working under the institute, and doing fraud by utilizing information systems, credit organizations or banks as the instruments.
Losses of more than $24M
As the exchange experienced a downfall, the indictment refers to a cumulative loss of nearly $24M (up to 356M liras), as considered to be substantially less than the funds claimed on the behalf of the victims of Thodex. It is even now ambiguous where the pilfered funds have been taken to. Thodex witnessed its maximum growth during the previous year in October when the inflows thereof touched 1,700 in BTC. Nonetheless, in the meantime, it additionally saw its maximum regular outgoing transfer of nearly 214 BTC.