Former Mt. Gox CEO Loses Motion to Delay US Court Case

in crypto •  18 days ago

Mark Karpeles, the former CEO of now bankrupt exchange Mt. Gox, was refused a motion to stay a case against him in US court brought by former investors.


Plaintiffs and former investors Gregory Greene and Anthony Motto say they hold Karpeles “personally liable” for losses they incurred from their bitcoin investments made through Mt. Gox.

Karpeles filed the motion to delay court action "in light of ongoing civil rehabilitation proceedings in Japan that are likely to provide full recovery”. Judge Gary Feinerman of the Northern District of Illinois denied the motion on Thursday.

A status hearing will be held on May 1.

Mt. Gox filed for bankruptcy in April 2014 after claiming to have been hacked for 850,000 bitcoins, some of which was later discovered in a "forgotten" wallet.

Karpeles is facing a potential 10 year sentence for embezzlement in a court case in Japan.

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, former Mt. Gox CEO


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