Overview

• 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.