There has been a new development in the Mt Gox case after Japanese prosecutors decided to charge Mark Karpeles for embezzlement. The charges were filed earlier today after over a month long investigation since his arrest on August 1, 2015.
Mark Karpeles was the owner and CEO of now defunct Mt Gox bitcoin exchange. Mark was being investigated for his role in the collapse of Mt Gox that led to loss of millions of dollars worth of bitcoin. During the course of investigation, it was discovered that Mark Karpeles was responsible for altering bitcoin balance information on exchange’s computer. He was also investigated for embezzling funds belonging to the exchange users after he allegedly transferred funds from Mt Gox to other companies he owned.
The initial arrest was over claims of altering exchange data and unauthorized transfer of funds. He was then released only to be arrested again. The second arrest was over claims that he illegally gained over $2.7 million by pocketing funds/bitcoins belonging to Mt Gox users for his personal gains. So far, Mark Karpeles was held without any formal charge as allowed under Japanese law. Japanese law allows law enforcement authorities to detain