A startling verdict in Turkey has left a Turkish cryptocurrency executive and his two siblings facing an astounding total of 11,196 years behind bars. The three were accused of their involvement in a massive investment fraud scheme.
Is the verdict really unusual?
Faruk Fatih Ozer, aged 29, had sought refuge in Albania in 2021 after his cryptocurrency exchange, Thodex, imploded, swindling investors out of millions. He was subsequently extradited to Turkey in June, where he faced charges ranging from money laundering to organized crime. Ultimately leading to his conviction.
In a parallel judgment, Ozer’s sister, Serap, and brother, Guven, were also found guilty of similar charges. Together, they were sentenced for their collective crimes against 2,027 victims. This astonishing sentencing is a testament to Turkey’s commitment to cracking down on financial fraud. Plus, it protects the interests of investors.
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In a nation where the death penalty was abolished in 2004, such lengthy prison terms are increasingly used as a means of holding individuals accountable for their actions, serving as a stark warning to potential wrongdoers in the financial sector.
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