Faruk Fatih Özer, the founder and CEO of defunct Turkish crypto exchange Thodex, was sentenced to 11,196 years in jail on Thursday, as reported by local media sources.
He was found guilty of aggravated fraud, leading a criminal organization, and money laundering.
“I am smart enough to lead any institution on Earth,” Özer told the court, as reported by Fortune. “That is evident in this company I established at the age of 22. I wouldn’t have acted so amateurishly if this were a criminal organization.”
Özer’s two siblings, who helped him run the exchange, were sentenced to similar jail terms.
Additionally, a court-ordered fine of approximately 135 million Liras (around $5 million) was levied against them.
The eventual trial saw 21 defendants facing up to 40,564 years in prison. 16 of the 21 defendants were acquitted and four of the seven persons jailed were freed due to a lack of evidence.
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Author: Mattis Meichler
Tip BTC Newswire with Cryptocurrency