Ex-Mt. Gox CEO Mark Karpelès Avoids Additional Jail Time2

A Tokyo District Court on Friday convicted Mark Karpelès, the former CEO of the infamous bitcoin exchange Mt. Gox, of illegal production of electronic records, but found him not guilty of more serious charges of embezzlement and breach of trust. The court sentenced him to two-and-half years in prison. However, his sentence was suspended for four years, meaning that as long as he remains on good behavior he’ll serve no additional jail time.

The French-born Karpelès, 33, was first arrested in Japan in early August 2015. He spent 11 months in prison before being released on bail. Prosecutors said that Karpelès embezzled a total of $3 million worth of clients’ money and manipulated data on his company’s trading system to increase the balance in an account. Karpelès had long maintained his innocence.

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