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Former Mt. Gox CEO Avoids Prison in Japanese Court Case

Mark Karpeles. Source: a video screenshot. The former CEO of the collapsed cryptocurrency exchange Mt. Gox, Mark Karpeles, will likely avoid having to serve prison time in Japan after receiving a suspended sentence. Karpeles was on Friday found guilty by the Tokyo District Court for tampering with the exchange’s financial records, as well as mixing his personal finances with those of the exchange, according to multiple media reports. However, the court dismissed the embezzlement charges that had also been raised against Karpeles, saying he “acted without ill intent.” Karpeles originally faced a prison term of up to 10 years in Japan for the embezzlement charges. “The charge of electronic record tampering is true and deserves punishment, but there’s no criminal evidence of embezzl...