Thodex's ex-CEO Faruk Fatih Ozer found dead

Anyone remember Faruk Fatih Ozer? So he was found dead in Turkish jail. He got hit with a crazy sentence of 190 years and 6 months because of the Thodex collapse. They charged him with aggravated fraud, money laundering, and leading a criminal group. Honestly, I was thinking there might be a bounty on his head considering he fled with a whopping amount, somewhere between $2 billion and $2.6 billion.

Reports have it that he was hanging from his cell bathroom, so it was suicide. And he was not sentenced to 190 years in prison, but 11,196 years in prison, which is crazy if you think about it and explains why he would take his own life. Too bad things ended this way for him, he started Thodex at a very young age, ~ 22, before the exit scam of $2.6B. I don't know if he created Thodex to exit scam, i mean if it was premeditated, or he didn't expect the service to grow that big and surprisingly it did and he decided to exit scam. Doesn't matter now, does it.

A 11,196 years, 10 months, and 15 days jail term just means life imprisonment, may he could no longer bear to just be behind bars. But don't you think that after a few years he could have been granted bail with an option to compensate the people he scammed? or his jail term reviewed and reduced? I think an investigation should still be carried out, we have seen from movies where murders in jail can be made to look like suicide, maybe one powerful unforgiving victim from his past came back to hunt him.

When they say cryptocurrency is a high stake investment, this is what they mean. In one instance, here is a formal CEO whom has mismanaged people’s funds, trying to benefit off the funds in his care and he lost it. In another instance, there are investors whom used exchangers as wallets to safe and hodl a significant volume of their cryptocurrency assets and have lost it. That’s a crazy sentence though, you can only be hopeful on a presidential pardon and even then, there would be those investors to have had their life ruined by the exchanger and would definitely hold a grudge. A terrible way to go.

I saw that post in our local section too, and the “11,000 years” part really stuck in my mind. Here in our country, the maximum penalty would be Reclusión Perpetua, which is only around 20 to 40 years. So 11,000 years sounds unrealistic, no one even lives close to that long, 100 years is already rare these days. But regardless, I think the main reason he took his own life was desperation. Imagine having billions yet living without freedom, that kind of situation can easily break anyone.

Damn, well, with a prison sentence like that, I can't help but think that the Turkish government is trying to send some kind of message. I don't know the details surrounding the CEO's capture, but the situation reminds me a little bit of when the AlphaBay founder committed suicide in his jail cell rather than get deported to the U.S., where he most likely would have served a term of life in prison. Did they really Epstein themselves? Without further evidence to suggest not, there's no reason to not go by the official story in either case.

With this, now I am curious about what the victims feel now who lost their money in that exchange. Because for me, it's still sad to hear what happened to that man, especially since he is still young, as there is no such money worth our life.

When the exchange went black four years after he founded it, and $2.6B was nowhere to be found, Faruk Ozer fled. He fled to Albania. I actually give it to him, because he managed to evade arrest for around a year and four months, though i do not know much about Albania and how easy it is to stay under the radar. However, he was finally captured and extradited to Turkey, where he was convicted. It is not like they killed him though, so i am sure many of them will be indifferent. Also take note that a lof of them had their lives ruined after the exchange went dark and their funds lost.

I doubt that was suicide. I mean it could be but he was forced to commit suicide probably. I don’t think he did it by his own will. If you were given a choice between slow and painful death and committing suicide, I am probably sure most of us here would do what he did. Not saying that was the decision he had to make but i think it is very possible considering the amount he stole forum the users of the exchanges is not small by any means. Stealing that kind of money puts a target on your back. Maybe it wasn’t his fault, maybe he was also a victim here and someone else stole the money and ran away with it but I don’t think we’ll ever find out about it. Rest in peace, may the lord have mercy on his soul.

I am not sure who would want to murder someone sentenced to 11,196 years in prison, lol. That is effectively countless lifetimes in prison, and because of the severity of his offences, i doubt he would have ever been a beneficiary of a pardon, so yeah, i believe it is surely suicide, except the investigations prove otherwise. His brother and sister are also incarcerated, serving 11,196 years in prison each, just like Ozer. If there was anyone after Ozer's life, then they could also shift their focus to his siblings. We'll see how this story develops, that's if it does.

This is what I believe every exchange owner is doing with people's money under their care. Should investigation be carried out today, over 90 percent of them will be involved in this one way or the other but some of them are lucky to get away with it. I will blame investors who relied on exchange wallet to store their assets, they deserve everything that come their way since they prefer to learn the hard way. That's only possible in a crypto friendly country otherwise, they'll intensify your penalties and anticipate your death. The investors have no valid reason to hold grudge against him, he didn't force them to invest with him or it's agency. Lol!

Between being murdered and committing suicide, the 2nd one is the more realistic one for me. I mean if you're being sentenced for 11,196 years in prison, that's basically life sentence already, and that might affected them mentally, made them insane and instead of slowly suffering themselves when they already know that they don't have any chance of being free, they just choose the easier route hence, taking their own lives and end it there. Well, that just my realistic opinion, and if I'm in their shoes, I would rather take my own life as well. I don't think that there will be any development to this story anymore because the suspects are dead already meaning the case is closed. I wonder though if the money that the users lost by using on their exchange will be refunded just like in FTX, or they already have.

I wasn't really worried his life sentence since they don't mean anything nowadays. One could be sentenced for a quadrillion years in prison and next year he will be walking free because the president pardoned him. That kind of stuff happens way more frequently lately. I was worried more of torture. Because the amount he stole was a very big amount and those who got ripped off would probably go after him. You'll probably say but he was in prison how would they get to him? When the lost amount is that big, you'd be surprised about the possibilities. The bigger the crime, the more leverage the criminal has over the justice system. Ask CZ about it.