Mt. Gox Saga Continues: Former CEO Mark Karpelès Gets Suspended Sentence

The crash of the Mt. Gox cryptocurrency exchange in 2014 has proven to be a large black eye on the cryptoeconomy. Now, its chief operating officer has been found guilty of tampering with company records to hide chaos in the exchange’s books.

On Friday, March 15th, the Tokyo District Court found Mark Karpelès, the former CEO of Mt. Gox, guilty of altering trading records and handed him a suspended sentence. The court had concluded that Karpelès, a Frenchman by birth, didn’t embezzle funds at the exchange and had only acted to hide the thefts of hackers. Accordingly, Karpelès swill probably avoid jail in the coming months unless he commits any flagrant transgressions of Japanese law.

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