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Ex-Mt Gox CEO to appeal conviction as prosecutors drop embezzlement charges

Today, the case involving ex-Mt Gox CEO, Mark Karpeles, received attention both from the prosecutors and the former CEO.

The ex-Mt Gox CEO has indicated that he will be appealing an earlier decision by the Tokyo District Court that he is guilty of records manipulation. According to Karpeles, the decision to appeal stems from his long term standing that he is not guilty of any wrongdoing. Not even data manipulation.

The Associated Press, a news outlet, quoted Karpeles who said:

During the opening of my trial in 2017, I swore to God that I am innocent of all charges. I believe appealing to the judgment is appropriate so that I can be judged again in full consideration of all the facts.

The decision to appeal the data manipulation claims by the ex-Mt Gox CEO comes a few hours after prosecutors handling his case said they would be dropping their push for Karpeles to get a higher jail term that the 2.5 years the court ruled.

Citing people with knowledge of the matter, The Mainichi, a Japanese news outlet, reported that:

Prosecutors have decided not to appeal a Tokyo court ruling that acquitted Mark Karpeles, former chief of Mt. Gox Co.

The court did not find Mark directly responsible for the loss of over 3 million U.S dollars in virtual currencies. On embezzlement charges, the court said that the funds transferred from the exchange to the ex-Mt Gox CEO “were loans he intended to return.”

Last year, Mt. Gox creditors were allowed by the Japanese bankruptcy court to claim their funds in Bitcoin and other digital currencies instead of them being repaid in the form of fiat equivalents valued at 2014 rates.

Do you think the ex-Mt Gox CEO has substantial evidence to get the court to drop its earlier charges?

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Philip is an experienced blogger keen on staying updated with trends and news surrounding the blockchain and Bitcoin space. With several years of freelance experience in various industries, Philip brings his knowledge and experience into the crypto space.

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