Faruk Fatih Ozer, CEO of Turkey-based crypto exchange Thodex, and 20 others accused of an exit scam in Turkey face a prison sentence of 40,564 years each, Bloomberg reports.
As reported, the defendants have been earlier accused of creating a criminal organization, fraud and money laundering.
On April 22, the crypto trading platform stopped trading for several days, reportedly due to the transfer of the company to a “new partner.” According to media, more than 390,000 Thodex users were affected by the move.
The CEO of the platform flew to Albania shortly before that happened. The Ministry of Justice of the country added the founder of Thodex on the country’s wanted list and demanded his extradition.
The Turkish prosecutors have issued arrest warrants for 78 people associated with the platform as part of an investigation into a potential exit scam.
