Insurance CEO Sentenced to Prison for Deceptive Practices

Sadri Fegaier, head of Indexia, receives two-year sentence and fines for misleading consumers with fraudulent insurance contracts.

Sadri Fegaier, CEO of insurance group Indexia, was sentenced to two years in prison, with 16 months mandatory, for deceptive business practices.
Fegaier and six of his companies were found guilty of creating complex processes to discourage insurance contract cancellations and refunds.
The court imposed a €300,000 fine on Fegaier and additional fines ranging from €150,000 to €1.5 million on the companies involved.
Victims reported unauthorized withdrawals totaling thousands of euros, often without signing contracts, between 2014 and 2022.
Fegaier is required to repay affected consumers and the Treasury during a two-year probationary period, but showed no remorse during the trial.