Mark Karpeles guilty of book records falsification, District Court of Tokyo ruled

Posted 15 March, 2019

After the recent hearing at the District Court of Tokyo, it was held that the former CEO of the dead bitcoin trading platform Mt Gox Mark Karpeles was found guilty of fraud, including falsification of book records at the platform.

According to the court decision, Mark Karpeles has got a suspended sentence of two and a half years. In fact, the judge determined that Karpeles was found guilty of document falsification but not of misapplication of clients' funds.

However, the platform's former CEO will actually face a suspended sentence of four years. This means that he will not go to prison in case of positive records during the next 4-year period. Besides, the prosecutor office wanted to get a 10-year sentence for Mark Karpeles for embezzlement.

"The charge of electronic record tampering is true and deserves punishment, but there’s no criminal evidence of embezzlement," as reported Bloomberg citing the court verdict.

For now, the lawyers and Karpeles plan to estimate the court ruling and then decide on their further actions regarding the charges.

For reference, Mt Gox faced dark times back in early 2014 after reports about the hack and loss of about 800,000 BTC ($480 million at that time). At the same time, its CEO Mark Karpeles said during the court hearing in the USA last December that he had clean hands in the events that led to heavy losses of the clients and business collapse.

It was also reported earlier that Karpeles' lawyers attempted to suspend the case that was launched against Karpeles in the USA amid ongoing civil rehabilitation process in Japan.

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15 March, 2019 12:34

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Pound sterling fluctuates, further Brexit vote ahead

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