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Bitcoin Industry Reacts As Mark Karpeles Avoids Prison Over Mt. Gox Debacle



Mark Karpeles, the former leader of discontinued crypto exchange Mt. Gox will probably not make time in prison after a significant acquittal of a Japanese court.


Court: Karpeles was not hiding bitcoins

As several sources included Bloomberg reported March 14, Karpeles, who has been suspected of millions of dollars in user funds being banned, is only guilty of record deficiency in the eyes of Japanese law.

The Frenchman will earn a four-year suspended sentence with the threat of two and a half years imprisonment he should reoffend within that period.

  Mt. Gox Where's our money

With this, Karpeles avoids the demands of prosecutors, who had applied for a ten-year imprisonment after claiming that he had spent the dizzying money to finance a luxury lifestyle.

"The responsibility for electronic record tampering is true and deserves punishment, but there is no criminal evidence of poisoning," Bloomberg cited the court's judgment as stated.

Translated by Yuji Nakamura, who contributed to ] Bloomberg the verdict continued:

There is no excuse for the defendant, who is an expert with expert knowledge, to abuse his status and authority to perform smart criminal acts. We cannot easily look at criminal liability for the defendant.

Five Years of Hell

Mt. Gox collapsed early in 2014 after the exchange lost a giant 850,000 bitcoins to malicious parties, some of which were later restored.

Karpeles received significant negative publicity through the debate and subsequent court proceedings, with angry users who lost money accusing him of negligence.

The former director has consistently protested his innocence while he seems to reinvent himself in the meantime, and loses considerable weight during his previous imprisonment over the charges.

At the same time, the procedure of selling bitcoin funds to repay users has caused controversy over the past year. As Bitcoinist reported, large amounts of BTC were sold on the open market, which led to bitcoin volatility worldwide.

Should Mark Karpeles Make Time in Prison? Share your thoughts below!


Shutterstock law, Bitcoinist archives


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