Cryptocurrency boss gets 11,196 years in prison for stealing $2 billion from customers

Cryptocurrency boss gets 11,196 years in prison for stealing $2 billion from customers
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Money Talks News / VideoElephant

A former cryptocurrency CEO has been jailed for over 11,000 years after stealing $2 billion from customers.

Faruk Fatih Ozer, 29, was extradited back to Turkey in June after fleeing to Albania in 2021 when the exchange of his company 'Thodex' collapsed.

Almost 400,000 customers could not access their accounts when Thodex went offline. It was then authorities started their investigation to track Ozer down.

Ozer was found guilty of money laundering, fraud and organised crime, alongside his sister Serap and brother Guven.

He has since claimed he was forced to temporarily close his company so they could launch a cyber attack investigation.

According to reports, he said he would "not have acted so amateurishly" if he had criminal intentions.

"I am smart enough to lead any institution on Earth," he allegedly said in court. "That is evident in this company I established at the age of 22."

Authorities said over 2,000 victims were affected in the case, before sentencing him to 11,196 years in prison.

Ozer is also required to pay a penalty of 135 million Turkish Liras (US$5 million).

Despite Ozer's sentence being significantly long, it is not the world's highest.

Chamoy Thipyaso from Thailand is currently serving 141,078 years in prison after defrauding over 16,000 people.

In the 60s, Thipyaso set up a 'fund' that looked like an oil share that promised high returns to investors. She used connections to make the fund seem legit but was later busted in the 80s after stealing $200 million and $301 million from victims.

Her sentence became the longest in the world, recognised by Guinness World Records.

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