Türkiye’s Ponzi scheme masterminds sentenced to 45,000 years in jail

A Turkish court has sentenced the organizers of a financial pyramid scheme to a combined total of 45,376 years and six months in prison.

Mehmet Aydın and Fatih Aydın, the founders of the system known to the public as Çiftlik Bank (Farm Bank), were convicted of crimes including illegal enrichment, creating a criminal organization, and fraud using information systems, Caliber.Az reports via Turkish media.

The lengthy sentences were handed down following a series of trials, with the prosecution initially seeking a sentence of 88,000 years, after more than 4,400 claims were filed against the defendants.

In their defence, Mehmet Aydın denied any intent to deceive, claiming that the assets seized during the investigation could compensate for the losses suffered by his clients.

Mehmet Aydın is known for creating Çiftlik Bank, a fraudulent scheme promising high returns to investors.

After evading justice for over two years, he was deported from Brazil in July 2021 at Türkiye's request.

By Aghakazim Guliyev