Turkish "cryptocurrency king" and his brother and sister sentenced to over 11.000 years in prison each

Such long prison sentences became common in Turkey after the death penalty was abolished in 2004 in an effort to meet the conditions for joining the European Union.

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Faruk Fatih Ozer, Photo: Printscreen/Youtube
Faruk Fatih Ozer, Photo: Printscreen/Youtube
Disclaimer: The translations are mostly done through AI translator and might not be 100% accurate.

Turkish "cryptocurrency king" Faruk Fatih Ozer, his brother Guven and sister Serap were sentenced to 11.196 years in prison each for defrauding investors of tens of millions of dollars, the BBC announced.

In 2021, Ozer fled to Albania with investors' money, after his cryptocurrency exchange Todex suddenly collapsed. In June of this year, he was extradited to Turkey and at trial was found guilty of money laundering, fraud and organized crime.

Such long prison sentences became common in Turkey after the death penalty was abolished in 2004 in an effort to meet the conditions for joining the European Union.

Turks started using cryptocurrencies to save money after the lira plummeted more than two years ago, and Todex was one of the biggest virtual currency exchanges and Ozer gained national fame as a financial wizard.

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