Japanese prosecutors are seeking a 10-year sentence for Mark Karpeles, the former chief executive officer of now-bankrupt bitcoin exchange Mt. Gox.
He reportedly transferred 341 million yen (or $3 million) of customers' money kept in an Mt. Gox bank account to his personal account during September–December 2013, according to a court indictment. They cash, they said, was taken for uses such as "investing in a software development business for personal interest."
Karpeles is also accused of manipulating the data on Mt. Gox’s trading system to fabricate the balance and playing a great role in “totally destroying the confidence of bitcoin users."
Later in April of this year, he apologized for the company’s bankruptcy, stating, “I never imagined things would end this way and I am forever sorry for everything that’s taken place and all the effect it had on everyone involved.”
Mark Karpeles image via CoinDesk Archive
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