Faruk Fatih Ozer, the founder and Crypto Exchange CEO Thodex, has been detained by the Albanian police for allegedly escaping with customer assets after the platform’s failure last year. With more than 500,000 users, Thodex was one of the most popular crypto trading exchanges in Turkey.
Albanian authorizes captures Thodex Crypto Exchange CEO
Crypto Exchange CEO Fark Faith, a 27-year-old entrepreneur and the creator of Thodex, was recently detained by the Albanian Police in accordance with a warrant issued by Interpol. Since long after he left from Turkey with 2 billion dollars in client money and the assets of his investors, Albanian police have been searching for him. According to the reports, fraud cost almost 500,000 people money, which is a sizable number.
After the closure of this cryptocurrency exchange site that gained notoriety following Turkey’s 2017 crypto bubble, when many people were trying to protect their assets from the nation’s declining inflation, Mr. Ozer, the founder of Thodex, vanished.
He is currently being charged with money laundering and fraud. According to the officials, he was responsible for losses totaling more than 350 million Turkish Liras, a substantial sum. He would be condemned to life in prison for this activity, along with other executive team members.
The Turkish Interior Minister issued a statement regarding the detention of Ozer, the founder of Thodex, noting that Albania has started the necessary processes for Ozar’s extradition to Turkey. According to a Turkish publication, he is being held in Elbasan for investigative purposes and will shortly appear in court.
More on the arrest of Thodex’s Founder and his executive team
According to reports, Turkey has detained more than 55 people for questioning, including the platform’s founder. The Albanian government recently reported that following the founder of Thodex’s Crypto Exchange CEO arrest, multiple persons from Durres and a resident of Tirana were detained to find out how they were connected to the suspect.
Numerous laptops, cell phones, and other necessary equipment were taken as evidence. There are still a lot of people alive that participated in this scam.
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