Former Mt. Gox chief Mark Karpeles acquitted of most charges in major bitcoin case
The man who oversaw the collapse of a giant bitcoin exchange was found guilty Friday of falsifying data but acquitted of other charges, meaning he's unlikely to go to prison.
Tokyo prosecutors had indicted Karpeles on a series of charges, including embezzlement and aggravated breach of trust, and called for a 10-year prison sentence. But the Tokyo District Court on Friday found Karpeles not guilty of the other charges and handed down a suspended prison sentence for the falsification conviction.
Based in Japan, the company imploded in 2014 after losing nearly $500 million worth of bitcoin belonging to investors.
Karpeles was arrested in Tokyo in 2015 and spent more than 11 months in custody.