The founder of the Turkish exchange Thodex has had some charges dropped but still faces imprisonment for fraud
ChainCatcher news, according to Decrypt, the 22nd District Court of Istanbul, Turkey, has dismissed the "organized crime" charges against Thodex founder Faruk Fatih Ozer, but still maintains the fraud charges and continues to detain him.Ozer is accused of defrauding over 400,000 users due to the collapse of the Thodex exchange in 2021, with the amount involved reaching $2 billion. In September 2023, he was sentenced to 11,196 years in prison. His legal team stated that they will push for further sentence reduction and emphasized that "the judicial process is not yet over."Thodex was a leading exchange in Turkey, which suddenly closed in April 2021, leaving 391,000 users unable to withdraw their funds. Ozer fled but was arrested and extradited from Albania in 2022. The court had previously found him guilty of money laundering, fraud, and other charges, but the latest ruling determined that some of the charges lacked sufficient evidence.