Mt. Gox CEO Found Guilty, Sentenced to 2.5 Years in Prison
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March 15, 2019
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The founder and former CEO of the notoriously-known cryptocurrency exchange Mt. Gox, Mark Karpeles, was given a sentence of 2.5 years by a Japanese court that probably won’t include prison time, reports the WSJ.

Initially, the prosecutors were asking a 10-year sentence for Karpeles.

Karpeles in a conversation with The Block said he was grateful to the court and "happy to be judged not guilty for embezzlement and breach of trust."

Previously, one of the world’s largest bitcoin (BTC) exchange, which was based in Japan, Mt. Gox filed for bankruptcy in 2014 after thousands of bitcoins belonging to customers were found to be missing.

Karpeles, who had been running the exchange since 2011, was arrested by Japanese police in 2015 and spent time in jail.

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