Founder of Thodex Exchange to Be Extradited Back to Turkey for Fraud and Theft Charges

The Turkish Ministry of Justice announced that preparations for the extradition of the founder of the Thodex exchange have been completed and that he will be handed over to law enforcement agencies next Thursday.

Faruk Fatih Ozer fled Turkey last year and was wanted by Interpol on charges of fraud with crypto assets, theft of more than $100 million and the creation of a criminal organization.

In August last year, the former CEO of the Thodex cryptocurrency exchange, wanted by the Turkish authorities, was discovered and arrested by the police in the Albanian city of Vlore.

Then the Albanian court decided to extradite the businessman to Turkey.

Turkish media, citing law enforcement sources, reported that during the raids, 62 people were detained on suspicion of links with Thodex and the fugitive Faruk Ozer.

The total amount of damage caused to the investors of the exchange, according to various estimates, could reach $ 2 billion.

Based on the totality of the charges against the founder and CEO of Thodex, Faruk Fatih Ozer, faces a life sentence of 40,564 years behind bars.