Turkish crypto chief starts 11,196-year prison sentence
Ozer received a staggering 11,196-year sentence after a Turkish court found him guilty of fraud.
In 2021 when the exchange collapsed, Ozer fled to Albania along with investors' assets worth roughly US$43m. He was extradited back to Turkey last year on charges of money laundering, fraud and organised crime.
The court also charged Ozer's brother and sister and gave them equally long sentences.
The case has echoes of the FTX fraud orchestrated by Sam Bankman-Fried who was recently sentenced to 25 years in jail.
One reason for Ozer's lengthy sentence is the fact that he was charged with 2,027 separate crimes, representing every indiviudal that was defrauded.
Anoither possible reason was Ozer's apparent lack of contrition. During his trail, he told the court that he "would not have acted so amateurishly" if his intent had been criminal.
"I am smart enough to lead any institution on Earth," he said. "That is evident in this company I established at the age of 22."
Read more on finextra.com
