Faruk Özar, formerly the CEO of Thodex, a Turkish cryptocurrency exchange, disappeared last April after freezing user activity on the platform. The company’s ensuing collapse led to losses that are estimated to be anywhere from $24 million to $2.6 billion. Now, about a year after fleeing the country, Özar, along with 21 other high-ranking officials at Thodex, were reported to have been facing an indictment that “[sought] sentences of up to 40,564 years for each of the [defendants].”
Özar was recently spotted (security footage caught him at the Istanbul airport in April 2021), and the disgraced executive has been apprehended by law enforcement in Albania. He’s currently facing potential extradition to Turkey, according to The Block.
