Turkey Seeks Jail Sentences of over 40,000 Years for Thodex Founders
Turkish prosecutors are seeking jail sentences totaling up to 40,564 years for 21 of the founders and executives of the crypto-exchange Thodex.
Thodex was part of the boom that attracted thousands of Turks who wished to protect their savings from rampant inflation and an unstable currency. Ozer stated in an unknown location in April 2021 that he would remit investors’ money and return to Turkey at a later date to face justice.
According to the indictment, total losses from the collapse of the exchange were TRY 356 million. That figure is far below the $2.6 billion estimated in a February report by Chainalysis. Based on the report, Thodex was responsible for about 90% of the global value lost to rug pulls in 2021.
It is alleged that the defendants established a criminal organization, engaged in fraud through informatics systems, and laundered proceeds from criminal activities.
Source
https://t.me/top_crypto_nft
