Breaking: Collapsed Crypto Exchange Thodex Boss Detain In Turkey

Crypto News: Turkish authorities on Thursday reportedly arrested Faruk Fatih Ozer, former CEO of collapsed crypto exchange Thodex. He was detained on his arrival at Istanbul airport over money laundering and fraud charges.

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Thodex Boss Arrested

As per reports, a Red Notice was issued from Interpol for Faruk Fatih Ozer on April 23, 2021. He was sought for fraud charges and founding a criminal organization. However, he managed to flee Turkey last year leaving investors unable to access their accounts.

Turkey Authorities eventually issued an international arrest warrant with more than $2 billion of funds stuck in the crypto exchange Thodex. The former CEO of Thodex was caught in Albania on August 30, 2022. However, his lawyers appealed against the continued detention of Ozer on September 14, 2022.

The cumulative losses incurred by investors still remain unclear. However, the initial estimate of losses filed in the prosecutor’s documents came out to be around $24 million. Read More Crypto News Here…

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