CEO of Mt. Gox Exchange Does Not Plead Guilty of Embezzlement

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The CEO of the now defunct Bitcoin exchange MT. Gox, Mark Karpeles, a 33 year old Frenchman has been sentenced by the Tokyo District Court accused of embezzlement and fraud. The Japanese court has convicted him of tampering of the records but later found out that the accused (Mark Karpeles) is not pleaded guilty of embezzlement or fraud. He has received a suspended jail sentence of two years and six months that accounts to 30 months of imprisonment. The local media stated that the accused have undergone data manipulation and that the court had suspended the sentence for four long years.

There have been a number of issues regarding the sentence of the now defunct Bitcoin exchange CEO which later followed in a number of tweets. Yuji Nakamura, the Tokyo-based Tech reporter for Bloomberg in one of his tweets stated that the nation is against the sentence and the so called “accused” is not going to the prison. In the tweet he also added in plain English that Mark might be accused of pleading guilty towards record tampering but he is not at all guilty of the embezzlement.

The sentence stated that the accused has been suspended for 4 long years and meanwhile if he does anything bad he will be jailed for 2 and a half years. In 2014, the Mt. Gox exchange collapsed that involved a huge loss of almost 850,000 Bitcoins of which 200,000 water later found. As per the verdict translated by Nakamura, the Tokyo District Court found that the CEO had been running the Bitcoin exchange in total mess and that he has tampered with the records in order to hide the fact that it was missing a lot of Bitcoins but it is believed that was not for his ill intentions or his personal benefit.

 

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