Prosecutors want former Mt. Gox CEO prisoned for ten years

Prosecutors want former Mt. Gox CEO prisoned for ten years.

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Christian Ploog

christian.ploog@trijo.co

On Wednesday, Japanese prosecutors suggested that Mark Karpelès, former CEO of the old bitcoin exchange Mt. Gox, should be sentenced to ten years in jail.

The charges against Mark Karpelès are regarding the claim that he embezzled around 340 million yen, which today accounts for over $3 million, from various accounts linked to the former bitcoin exchange, Mt. Gox.

According to the prosecutors, he used the money to buy companies, and paying rent, Nikkei Asian Review reports.

Want him jailed for ten years

Mark Karpelès himself denies the allegations and claims that the money was only a temporary loan. The prosecutors, however, think differently and now want the old bitcoin CEO jailed for ten years.

“His responsibility is severe”, the prosecutors said, according to the news site.

Mt. Gox was a bitcoin exchange that went bankrupt in February 2014 after $423 million worth of bitcoin vanished. According to Karpelès, the exchange was hacked, Nikkei Asian Review reports.

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