Ex-Mt.Gox CEO Dodges Jail Time with Suspended Sentence

Mark Karpeles receives a 2 ½ year suspended sentence for tampering with Mt. Gox electronic records.

Today Mark Karpeles, the former CEO of the infamously compromised Mt.Gox exchange, has been found guilty of manipulating financial records by the Tokyo District Court.

According to local sources, it was found that Karpeles had tampered with Bitcoin trading data to make it look as though $33.5 million had been deposited into his own account.

Per the Judges verdict as reported by Bloomberg, Karpeles “deserves punishment” and has been given a 2 ½ year prison sentence, suspended for 4 years. This means that Karpeles will not serve any jail time provided he does not commit any other offences during the stipulated period.

His other charges for aggravated breach of trust and embezzlement were subsequently acquitted by the Court, on the grounds that there was “no criminal evidence” to support the allegations.

In response to a recent Reddit post by ‘Idlestabilizer’, Karpeles, under his well-known Reddit username ‘MagicalTux’, stated,

“I'm not going to prison. Brock Pierce may want for me to, but he's going to be disappointed.”

The investigation into the missing 850,000 Bitcoins that were allegedly ‘stolen’ by hackers during the exchange’s well-documented collapse in 2014, is still ongoing, and Karpeles fervently denies any involvement in the theft of those coins. At present a Civil Rehabilitation Order has been served to begin compensating the owners of the missing funds. 

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