Protestors Will Watch Mt Gox CEO Face Criminal Trial This Week

Next week the notorious Mt Gox CEO, Mark Karpeles, will be going to trial for the missing bitcoins lost on the exchange back in 2014. 850,000 BTC was removed from Mt Gox trading platform, and later Karpeles allegedly found 200,000 BTC kept in cold storage. Karpeles will face the Japanese court’s decisions concerning the rest of the $1.6 billion worth of BTC gone missing.

Investigating the Lavish Lifestyle of Mark Karpeles

Protestors Will Watch Mt Gox CEO Face Criminal Trial This Week
Mark Karpeles 2017.
Back in October of 2015, Mark Karpeles was arrested for allegedly exploiting the Mt Gox record books, and Tokyo prosecutors accused the CEO of embezzling funds. According to regional reports at the time, Tokyo Police initially arrested Karpeles for moving USD $1 Million in yen to his bank account. Further, many well known Japanese publications such as Yomiuri and Jiji detailed that Karpeles lived a posh lifestyle and had solicited “several women whom he met at venues that offer sexual services.” A few week’s prior to Karpeles October arrest the former Mt Gox executive also was caught moving $166,000 worth of yen to his personal account.

A year later in July of 2016, a much thinner Karpeles was released by posting bail to the tune of $95,000 worth of yen. Karpeles has been a free man ever since but has been mandated to stay in Japan. Now, this Tuesday, July 11 Karpeles will face the Japanese prosecutor’s allegations that he embezzled some of the missing bitcoins. According to his lawyer, Kiichi Iino, Karpeles plans to plead not guilty to the charges against him. “He is keeping calm as the trial gets underway,” Karpeles lawyer explained to the Associated Press.