Court in Turkey sentenced the organizers of a financial pyramid scheme to 45,300 years in prison

A court in Turkey sentenced the organizers of a financial pyramid scheme to 45.3 thousand years in prison. This was reported by local newspaper Istiklal on February 3.

"Mehmet Aydin and Fatih Aydin, who were the founders of the system known to the public as Çiftlik Bank, were sentenced to 45,376 years and 6 months in prison each," the material said.

They received such terms on aggregate. They were found guilty of enrichment by criminal means, creation of a criminal organization and fraud with the use of information systems.

It was specified that the prosecutor's office demanded to convict them for 88 thousand years, as in total more than 4.4 thousand lawsuits were filed against the organizers of the financial pyramid.

In his defense, Mehmet Aydin said that he had not deceived anyone. According to him, his funds, which were placed under arrest, could compensate for the losses of his business clients.

Mehmet created the Çiftlik Bank ("Farmer's Bank") system through which he defrauded customers by promising returns on investments. In July 2021, he was deported by Brazil at Turkey's request after fleeing justice for more than two years.

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Earlier, on December 30 last year, the IHA news agency reported that a group of fraudsters who made $60 million from defrauding tourists were detained in Turkey. 12 of the 20 detainees were arrested. The suspects published fake advertisements of hotels in bungalow format and deceived customers, while receiving money for fake bookings.