What's this? This is an unbiased just-the-facts news summary about Mark Karpeles and Mt. Gox. To see the full newsline, click the red tabs below. Love news? Become a contributor now!

11 Sep, 2015

Embezzlement charge

Charged0 Comments

Japanese prosecutors charge Karpeles with embezzling 321 million yen ($2.66 million) by transferring clients’ funds deposited at Mt.Gox’s bank account to other accounts. Sources say the money was spent on buying computer software development rights and an expensive custom-built bed. Karpeles is suspected of falsifying data on the outstanding balance of the exchange. Karpeles has denied the charges, telling investigators the data falsification was done for the company and he had intended to pay back the money. He has been held without formal charge for six weeks, as allowed under Japanese law.

0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments