Money & Banking

Suspended sentence for MtGox founder

PTI Tokyo | Updated on March 15, 2019

A Japanese court sentenced the former high-flying creator of the MtGox bitcoin exchange to a suspended jail sentence of two-and-a-half years on Friday after finding him guilty of data manipulation. The Tokyo District Court convicted Mark Karpeles, a 33-year-old computer whizz from France, for tampering with computer data, but acquitted him over charges of embezzling millions from client accounts. The sentence was suspended for four years. In a summary of the ruling, the court said Karpeles had “harmed users’ trust greatly” by manipulating data and “abused his expertise as an IT engineer and his position and authority”.

Published on March 15, 2019

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