Tags: APFN | AS | Japan | Bitcoin

Mt Gox CEO Facing Trial in Japan as Bitcoin gains Traction

Monday, 10 July 2017 05:38 AM

TOKYO (AP) — The head of the failed Japan-based bitcoin exchange Mt. Gox is due to appear in Tokyo District Court on Tuesday to face embezzlement charges.

Authorities suspect France-born Mark Karpeles of accessing the exchange's computer system in February 2013 and inflating his cash account by $1 million. He was arrested in August 2015 and released on bail months later.

In October last year he resumed postings on his Tumblr account, and has occasionally answered questions online about the handling of the Mt. Gox bankruptcy.

Karpeles has denied wrongdoing. If found guilty, he could face up to five years in prison, or a fine of up to 500,000 yen ($4,000).

When Mt. Gox went offline in 2014, Karpeles said tens of thousands of bitcoins worth several hundred million dollars were unaccounted for.

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The head of the failed Japan-based bitcoin exchange Mt. Gox is due to appear in Tokyo District Court on Tuesday to face embezzlement charges.Authorities suspect France-born Mark Karpeles of accessing the exchange's computer system in February 2013 and inflating his cash...
APFN,AS,Japan,Bitcoin
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2017-38-10
Monday, 10 July 2017 05:38 AM
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