The former CEO of the now-defunct Bitcoin exchange Mt. Gox has received a suspended jail sentence after being found guilty of tampering with financial records.
Mark Karpeles — the former CEO of the now-defunct Bitcoin (BTC) exchange Mt. Gox — has received a suspended jail sentence after being found guilty of tampering with financial records. The news was reported by Bloomberg on March 15.
The Tokyo District Court has reportedly found Karpeles guilty of mixing his personal finances with those of the exchange in order to conceal the platform’s losses to hackers. He received a two and a half years jail sentence, which he will not have to serve unless he commits another offence within four years.
The court however acquitted Karpeles of alleged embezzlement stating that:
“The charge of electronic record tampering is true and deserves punishment, but there’s no criminal evidence of embezzlement.”
Read Full Story : Cointelegraph.com News