Tuesday, 25 June 2024

Turkey Court Sentenced 11,196 Years Prison for the Cryptocurrency Exchange

  • He is a secondary school dropout and is known to have established Todex at 22 years old.
  • Turkiye media appraises that Todex’s chapter 11 caused property harm worth $2 billion (around 2.674 trillion won).

Bloomberg News provided details regarding the eighth (nearby time) that a court in Turkye (Turkey) condemned the Chief of a neighborhood digital currency trade to 11,196 years in jail on charges of misrepresentation.

The Turkye Court condemned Farooq Fatih Ozer (28 years of age), the organizer and Chief of the neighborhood digital currency trade Todex, to jail on charges of protection extortion, shaping a criminal association, and tax evasion.

11,196 Years Prison for the Cryptocurrency Exchange CEO

Ozer established Todex with his more youthful sibling in 2017 and has been running it from that point forward. Nonetheless, Todex failed in 2021 because of a liquidity emergency.

A short time later, he escaped to Albania. Nonetheless, he was captured by Albanian police recently and removed to Turkey, where a removal understanding was agreed upon. He has since been placed being investigated.

At preliminary, he denied the vast majority of the charges, asserting, “I’m savvy to the point of driving any association or association on The planet.”

Specifically, he fought the court, which considered the digital currency trade a ‘criminal association‘, saying, “On the off chance that it was a criminal association, it could not have possibly acted so crudely.”

In the interim, Kwon Do-hyung, President of Terraform Labs, who is from Korea and is being sought after by Korean and U.S. legal specialists, was captured in Montenegro on Walk 23, yet has not been removed to Korean or U.S. legal specialists.

Assuming Agent Kwon is removed from the US, almost certainly, he will be condemned to over 100 years in jail because of the US’s severe norms for monetary violations.

The U.S. examiners accepted that Land and Luna had protection properties and prosecuted Chief Kwon on eight charges, including protection misrepresentation. Specialists concur that because of the idea of the US, which consolidates the sentences for each charge, all things considered, a crueler discipline of 100 years or more will be forced.

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