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Turkish Authority Detains Suspected Fraudsters As Allies in Thodex Crypto Fold up

Turkish Authority Detains Suspected Fraudsters As Allies in Thodex Crypto Fold up

Six suspects remain detained as Turkish authorities carry out a follow up on the sudden folding up of the local cryptocurrency- Thodex with the disappearance of its CEO.

According to Reuters,the suspects comprising of the CEO’s siblings and the company senior colleagues were detained by a Turkish court on 29th of April, while they await trial.

Many strategies have been deployed worldwide to track down the CEO and founder of Thodex who has been on the run, and currently in Albania. These include the red notice issued by the INTERPOL and extradition treaties as stated by Turkish interior minister, Suleyman Soylu.

An inference that Thadox was an illgetimate enterprise following its abrupt  transaction end implicates more individuals who are under local authorities’ detainment.

The witness borne by some suspects holds the two CEO brother and sister- Guven Ozer and Serap Ozer responsible, as partners in this scheming owing to the outstanding Crypto stocks in their possession.

Guven Ozer has in his possession about 22 million Turkish liras, equivalent to $2.7 million on the local cryptocurrencies-BtcTurk and Paribu. He was a significant executive though behind the scene.

The CEO’s sister also has in her Binance account more than 120 million liras equivalent to $14.6 million of cryptor exchange between 2018-2021 with the implication that she managed the financial operations at Thodex.

The former update has it that the CEO eloped with $2 billion worth of crypto. Current update according to Soylu has it that the company’s investments summed up to $108 million.

The turn of events in Turkey crypto operations makes firm the  rigidity of Turkish authorities on the ban lifted on crypto payments to kick off on the 30th of April. Alarming increase of fraudulent acts and detainment of suspects  prompt another Turkish exchange, Vebitcoin to close operations.


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