Prison sentence for Thodex founder

The founder of the former crypto exchange Thodex must serve seven months in prison. Proceedings are still pending against him.

The founder of the disintegrated crypto exchange Thodex has been sentenced to seven months in prison, according to media reports. According to the report, he had failed to "submit requested documents to the tax inspectorate." The prosecution had demanded a prison term of up to five years for "smuggling" under the Tax Procedure Act. The court earlier sentenced him to a year and a half, but later reduced the sentence.

Life sentence possible

Several proceedings are still pending against the former entrepreneur. Among other things, he is accused of defrauding investors, money laundering and setting up a criminal organization. If convicted, he faces a life sentence.

The founder of Thodex was arrested in Albania last year. Before that, he was put on the wanted list by Interpol.

Also read: Sam Bankman-Fried's lawyers try to split the lawsuit