Thodex Founder’s $2 Billion “Oopsie” – One Charge Overturned! 😲

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In a shocking turn of events, a Turkish court decided to lighten the load for Thodex CEO Faruk Fatih Özer and his two brothers. They overturned the guilty verdict for creating a criminal organization, although they’re still doing time for other charges.

Faruk Özer’s Thodex: The “Rug Pull” Heard ‘Round the World 🌎

Faruk and his brothers, Güven and Serap, pulled off one of the most significant crypto heists, stealing around $2 billion. While Güven and Serap were arrested, Faruk went on the run. Eventually, he was caught in Albania and sent back to Turkey in 2022.

Prosecutors tried to make an example of these guys, dishing out sentences of up to 40,000 years! But, the court decided on a slightly more lenient 11,196-year sentence for Faruk. However, the legal drama didn’t end there.

An appeal recently overturned guilty verdicts for 16 defendants, including Faruk and his brothers. Although four were released, the Özer brothers weren’t so lucky. They’re still in the slammer, but their legal team is demanding a retrial.

“The Chamber ruled that the defendants Faruk Fatih Özer, Güven Özer and Serap Özer should remain in custody for other crimes and sent the file back to the local court,” local reports stated.

Despite the overturned charge, Faruk and the top Thodex execs are still in hot water. Their legal team, however, claims that public perception and media narratives led to the harsh sentence. They even reduced the alleged stolen amount from $2 billion to $7 million in the indictment!

As it stands, it’s uncertain how long Faruk and the remaining Thodex employees will be behind bars. But, with sentences ranging from 6-18 years for some of the lesser charges, there’s a glimmer of hope for an early release. Well, maybe… or not.

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2025-01-31 22:58