Japanese Court Finds Ex-Mt. Gox CEO Guilty of Record Tampering
William Suberg's original article for cointelegraph.com reduced by 48%
Mark Karpeles - 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. 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.
As previously reported, Mt. Gox was hacked in 2011, with around 24,000 creditors reported to be affected. While the fraud and embezzlement charges were not related directly to the theft, Karpeles' conduct in the wake of the platform's hack has sparked suspicion.
Since his trial commenced in July 2017, Karpeles continues to maintain his innocence and has accused the Japanese justice system - which, as Bloomberg notes, has a 99 percent conviction rate - of unfair treatment. As reported, earlier this month a United States court denied Karpeles' motion to stay a separate lawsuit, which accuses him of personal liability for investors' losses, in light of rehabilitation proceedings in Japan. In February, Karpeles dismissed the so-called "GoxRising" movement, spearheaded by controversial crypto figure Brock Pierce, who has claimed he can reboot the trading platform and accelerate compensation for Mr.
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