Thodex founder Faruk Fatih Özer came up with a highly anticipated court decision. Özer was sentenced to prison for tax evasion. The decision was announced at the decision hearing held at the Istanbul Anatolian 17th Criminal Court of First Instance. Özer, who attended the hearing remotely via the SEGBİS system, denied the allegations against him. He pleaded not guilty throughout the trial. Here are the details…
Thodex founder’s first jail sentence announced
The lawsuit filed against Özer stemmed from the allegation that he had not submitted the requested documents to the Tax Inspection Board within the legal period. Despite claiming that he was not in control of the company at the time of the alleged crime, the court found Özer guilty of “smuggling” under the Tax Procedure Law. Initially, the prosecutor had requested that Özer be sentenced to a maximum of five years in prison. However, the court ultimately sentenced Özer to 7 months and 15 days in prison.
However, the court decided to reduce the sentence considering various factors. Özer’s social relationships, his behavior after the crime and during the trial, and its potential impact on the future of the sentence are cited as mitigating factors. As a result, the court postponed the announcement of the verdict and suspended the sentence.
The case is getting a lot of attention.
Thodex cryptocurrency exchange case attracted great attention both in Turkey and abroad. Özer’s arrest in Albania and the legal process after it was critical. This process is closely followed by cryptocurrency enthusiasts and legal experts. The court’s decision marks the first prison sentence given to Özer, who faces additional charges such as “establishing and leading an organization”, “money laundering” and “qualified fraud”. These charges will be dealt with in a separate hearing at the Istanbul Anatolian Heavy Penal Court.
The case dates back to October 30, 2021, when Özer was notified to submit documents related to his job. Despite the notification, Özer’s failure to comply with the request within the specified time period resulted in legal action being taken on the charge of “violating the Tax Procedure Law”. The court’s decision on the tax evasion charge represents an important development with potential implications for the other charges Ozer faces.
Özer’s defense team stated that they intend to appeal the court’s decision. They say that Özer was not an official of the company at the time of the alleged crime. They also argue that a trustee has been appointed to oversee operations. Özer claims that due to these conditions, he cannot submit the requested books even if he wanted to. As a result, some have voiced Ozer’s potential to evade allegations of fraud simply by paying a fine. So, some point to the possibility of Özer avoiding the charges with a fine, without serving jail time. Those who are tried for smuggling under the tax procedure law are sentenced to between 18 months and 5 years in prison.
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