The founder of a popular crypto exchange in Turkey has disappeared, with media reports indicating that he has fled the country with $2 billion as roughly 300,000 frustrated users have suddenly lost access to their accounts.In Turkey, the national currency lira has been in a secular decline for nine consecutive years, urging people to take some risks in a bid to protect their savings and maybe even earn something. As a result, the recent rise of cryptocurrencies predictably attracted many investors who hoped to protect their money and possibly gain some more. But things did not go well for them as Thodex, one of the country's largest cryptocurrency exchanges, went bust.
Turkey has issued an international arrest warrant for the founder of a cryptocurrency trading platform.State media report that Faruk Fatih Ozer fled to Albania with an alleged $2bn from 391,000 investors.Police also arrested 62 people in simultaneous dawn raids in eight Turkish cities over alleged connections to Mr Ozer's company, Thodex.Mr Ozer called the allegations against him "baseless" and said he is in Albania for work meetings.The Turkish justice ministry has begun legal proceedings to seek the arrest and extradition of Mr Ozer from the Albanian capital Tirana, Andalou reported, adding that Interior Minister Suleyman Soylu had spoken to his Albanian counterpart on the phone.Interpol issued a red notice for Mr Ozer on Friday after receiving a request from Ankara.
…In the latest development in this bizarre saga, in a statement published from an unknown location, Thodex CEO Faruk Fatih Ozer promised to repay investors and to return to Turkey to face justice after he did.“I was born as one of the three siblings of a civil servant,” Ozer said in his statement, adding that he’s a high-school dropout. As the company ran into financial trouble, he said he thought about either committing suicide or giving himself up to authorities, but both of those options meant clients’ assets would never be retrieved.“So I decided to stay alive and fight, work and repay my debts to you,” he said. “The day I repay all my debt, I will return to my country and give myself in to justice.”Narrator: "he won't return."
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The only money investments that interest me involve gold and silver.