Former Mt GOx CEO Mark Karpeles charged with embezzlement

Bitcoin, News

The former CEO of the popular Bitcoin trading site Mt Gox was yesterday charged with embezzlement of over $2 million USD worth of bitcoin from the failed exchange.

Karpeles is suspected of using his personal bank account to accept funds from unsuspecting clients. While it too early to speculate on a verdict the Japanese courts have a conviction rate of 99% and if convicted could face up to 10 years in jail.

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