Karpeles Beats Embezzlement Charges in Mt Gox Ruling
Jimmy Aki's original article for bitcoinmagazine.com reduced by 43%
The Tokyo District Court has found Mark Karpeles, the former head of now-defunct Bitcoin exchange platform Mt. Gox, guilty of record tampering but innocent on other charges related to embezzlement and breach of trust. Per reports in the Wall Street Journal, the court's verdict is a massive blow to Japanese prosecutors who have maintained their stance that Karpeles was guilty of embezzlement and breach of trust at Mt.
Gox. In its ruling, the court pointed out that by falisfying records, Karpeles acted beyond the limits of his authority and against the general interests of the company. Prosecutors took issue with Karpeles' decision to use a section of the supposedly embezzled funds to purchase a business that deals in 3D printers.
Pointing out Karpeles' position and IT expertise, the judge asserted that there is no justification for such an abuse of information. The plaintiffs accused Karpeles of painting an untrue picture of the exchange's stability and security, as well as demonstrating negligence that led to their funds being stolen. If found guilty, Karpeles could be compelled to make compensation and damages payments.
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CN [too long; didn’t read]
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