Faruk Fatih Ozer, founding father of the now-defunct Thodex trade, was discovered lifeless in his jail cell whereas serving his sentence in Turkey, based on native media stories. The previous trade CEO was sentenced in 2023 to 11,196 years in jail for numerous monetary crimes.
Thodex CEO May Have Dedicated Suicide: Turkish Minister
On Saturday, November 1, Bloomberg reported that Ozer died in his jail cell within the F-Kind Excessive Safety Closed Jail within the Western Turkish metropolis of Tekirdag. Citing Turkish broadcaster TRT, Bloomberg revealed that the authorities are investigating the founder’s demise, with a deal with the potential of a suicide.
Justice Minister Yilmaz Tunc stated in an announcement:
An investigation has been opened on this matter and is ongoing. The precise explanation for demise will likely be decided because of the investigation. However presently, the preliminary findings point out that it was a suicide.
Ozer was discovered hanging within the lavatory of his single-person jail cell, which led the investigative speculations on the reason for demise being a suicide. Nevertheless, the Tekirdag F-Kind Excessive Safety Closed Jail has been referred to as out up to now by some human rights organizations for its use of solitary confinement and small-group isolation.
Ozer, who established the cryptocurrency trade Thodex in 2017, fled to Albania after the abrupt collapse of his agency in 2021. Following his extradition from Albania in 2022, the previous crypto CEO, alongside together with his two siblings, was discovered responsible by an Istanbul courtroom for numerous crimes, together with aggravated fraud, cash laundering, and operating a legal group.
Ozer revealed in an announcement launched shortly after the implosion of Thodex that he had considered surrendering to regulation enforcement or committing suicide. Nevertheless, the previous trade boss selected as an alternative to flee Turkey for Albania as a way to “keep alive and battle, work and repay my money owed.”
Within the preliminary case introduced towards Ozer, the prosecutor estimated the entire losses incurred by buyers to be round $24 million after Thodex’s collapse. Nevertheless, the Turkish media put the figures as excessive as $2 billion, whereas an information analytics agency reported a $2.6 billion loss.
Crypto Whole Market Cap At $3.66 Trillion
As of this writing, the cryptocurrency complete market capitalization stands at round $3.66 trillion, reflecting a 0.39% bounce up to now 24 hours. Nevertheless, a broader look reveals that the market is on a downward pattern, falling by almost 10% up to now month.
The crypto complete market cap on the day by day timeframe | Supply: TOTAL chart on TradingView
Featured picture from Getty, chart from TradingView
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