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Mt. Gox CEO Gets Sentenced

Earlier this week we did an article that the former head of the Mt. Gox crypto exchange was to see jail time by today (15th March). The Tokyo District Court has now sentenced Mark Karpeles to two and a half years in prison, suspended for four years.

Based in Japan, Mt. Gox was one of the biggest digital currency exchange operators across the globe.

The French-born CEO of the exchange was given a suspended jail sentence for manipulating Mt. Gox’s Bitcoin trade data but acquitted of embezzlement and violating corporate law by committing an aggravated breach of trust. Prosecutors had demanded a ten-year jail sentence.

The Karpeles case involved significant amounts of Bitcoin that vanished from the virtual banks of the exchange over five years ago. The case is still under investigation and is now undergoing civil rehabilitation procedures after the firm declared their bankruptcy in 2014.

The former CEO pleaded his innocence to all the charges put against him and he denied any…

Read Full Story : Crypto Daily™

2019-03-15 10:00:00

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