An investigation into Theodex, a cryptocurrency exchange is progressing, according to Turkish investigators. Trading was halted by the investigation last week.
Siblings of the missing CEO of Theodex and senior company employees of Theodex were jailed by the Turkish court on Thurday.
A red notice has been issued by Interpol, against the CEO of Theodex, Faruk Fatih Özer in furtherance of the investigation and it is belived that Faruk Fatih Özer has fled to Albania and when caught with the red notice, Turkey has extradition agreement with lots of countries, according to the Turkey minister of interior, Süleyman Soylu.
Amid growing concerns that Theodex was a scam after the platform halted money withdrawal, local authorities detained over eight three individual suspects connected to the fraud.
Some suspects indicated that Özer’s siblings Güven Özer and Serap Özer could have been serving major roles in Thodex’s operations, noting that both had significant crypto holdings, local news agency Anadolu Agency reports.
Güven Özer reportedly holds nearly 22 million Turkish liras ($2.7 million) on two major local crypto exchanges including BtcTurk and Paribu. Güven reportedly served as an active executive at Thodex despite not having an official role at the company.
Serap Özer, the missing CEO’s sister, reportedly had over 120 million liras ($14.6 million) worth of crypto transactions on her Binance account between 2018 and 2021. She claimed that the account was not hers. Serap allegedly oversaw financial activities at Thodex.
As previously reported, the missing Thodex CEO is reported to have run off with as much as $2 billion worth of crypto, but according to the latest reports, interior minister Soylu said that the company’s portfolio totaled $108 million.