Bitcoin chief held over missing millions

Mark Karpelès, the former chief executive of Mt.Gox, the defunct bitcoin
exchange, has been arrested in Tokyo in connection with the disappearance of
hundreds of millions of dollars of the virtual currency.

Police took Mr Karpelès into custody on the grounds that he had inflated the
balance of his account at the exchange by $1 million.

Observers overseas may see the reason for the arrest as similar to detaining a
hit-and-run driver on claims of jumping a traffic light, but quirks in the
Japanese justice system mean Mr Karpelès’ story is far from over.

Police in Tokyo can detain suspects

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Read more ... source: Bitcoin Warrior