Home / Business / Mt. Gox CEO Mark Karpeles found himself guilty, considering a suspended sentence

Mt. Gox CEO Mark Karpeles found himself guilty, considering a suspended sentence



Mark Karpeles, former CEO of Mt. The Gox cryptocurrency exchange, received a sentence of two years and six months, suspended for four years after being found obliged to manipulate the records of the Tokyo District Court. Karpeles did not find himself guilty of two accusations, embezzlement and violation of company law.

The prosecutors sought a 10-year sentence but, according to the Wall Street Journal, if Karpeles "continues his good behavior for the next four years, he must not earn time in prison."

Karpeles was not on trial for the actual disappearance of $ 450 million in bitcoin from the stock exchange, resulting in the bankruptcy of Mt. Gox in early 201

4. Bankruptcy procedure related to Mt. Gox is still ongoing in March 2019.

Karpeles told Block: "I am grateful to the court and happy to be convicted not guilty of embezzlement and lack of confidence." He added that he will discuss with his lawyers and decide how to proceed with the remaining fee.


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