This Crypto CEO got Jailed for More than 10,000 Years…Here’s Why!
Why did Thodex Crash?
Thodex, established as one of Turkey’s prominent crypto exchanges, met its downfall when it abruptly went offline in April 2021. This left over 400,000 members without access to their digital assets, a total amounting to $2 billion. The dramatic collapse of Thodex resonated widely in Turkey, a nation where cryptocurrency had become a refuge for many against the backdrop of soaring inflation and the plummeting lira.
Trial and Sentencing
Upon extradition to Turkey, Özer, alongside his two siblings, faced trial in Istanbul. They were charged with leading a criminal organization, money laundering, and massive fraud. Despite Özer’s defence and claims about his genuine intentions behind establishing Thodex, the court delivered its historic verdict. Notably, Turkish courts are known for meting out such extraordinary jail terms. Past examples include cult leader Adnan Oktar’s 8,600-year sentence and Fethullah Gülen’s 1,900-year sentence.
Thodex Crash: Financial Ramifications
While initial reports speculated that Özer had fled with assets nearing $2 billion, the prosecution estimated the losses to Thodex investors at a then-equivalent of $43 million. Due to Turkey’s economic challenges, including the lira’s freefall and sharp inflation, the same sum is currently valued at approximately $13 million.
-
1:40:35
Flyover Conservatives
15 hours agoShocking Facts about the Largest Structure EVER Built by Man - Conspiracy Conversations (EP #40) with David Whited - Timothy Schwab
43.6K26 -
10:03
JoBlo Horror Originals
1 day agoThe Running Man: What Happened To This Adaptation?
29.2K24 -
41:59
Destene and Brandon
1 day agoTHE SECRET IS OUT!!! WE'RE HAVING A......
52.8K16 -
4:12
Hack
1 day agoWhat can be made out of plastic bottle lids
36.3K2 -
13:07
Exploring With Nug
1 day ago $0.03 earnedFailed Justice: 4-Year Sentence for Man Who Murdered Young Girl
44.7K50 -
24:03
Brewzle
1 day agoWe Find INSANE Bottles Bourbon Hunting in Georgia
47.2K5 -
15:38
Degenerate Jay
20 hours agoThe Most Frustrating Trend That's Ruining Video Games
32.7K5 -
16:42
Space Ice
23 hours agoArnold's Conan The Destroyer Proved Masculinity Is The Greatest Thing Ever - Best Movie Ever
47.1K33 -
7:00
Hannah Barron
20 hours agoEven Rednecks Need a Girls Day!
51.2K42 -
15:25
shaneandliana
20 hours agoExtreme Disrespectful Prank On Uncle
36.5K8