CEO of the Infamous Mt.Gox Found Guilty

Today it became known that Mark Karpeles was found guilty of tampering with records. He was given a sentence of two years and six months. But it is important to take account of the fact that Mark will be suspended for four years and if staying on good records in the next four years he will avoid jail time.

It is worth noting that the prosecution sought a 10-year sentence but the Tokyo District Court found him not guilty of embezzlement. The defence is going to asses the situation to develop a further strategy.

“I am grateful to the court and happy to be judged not guilty for embezzlement and breach of trust.”

It should be noted that just a couple of weeks ago the Illinois Court refused to examine Karpeles’s lawyers’ petition to stay a US lawsuit against him. The main plaintiffs are large investors Gregory Greene and Anthony Motto. They seek to hold Karpeles personally liable for capital losses they sustained.

It should be reminded once the largest cryptocurrency exchange Mt.Gox was hacked on June 19, 2011, for 800, 000 bitcoin. Litigations continue to this day. The former CEO pleads not guilty.

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