The trustee of now-defunct Japanese cryptocurrency exchange Mt. Gox has extended the deadline for submission of rehabilitation plans, according to an official announcement published on the company’s website on April 25. Per the announcement, the exchange’s Rehabilitation Trustee Nobuaki Kobayashi filed a motion in a bid to extend the submission deadline of a rehabilitation plan at the Tokyo District Court. On April 24, 2019, the court released an order to extend the deadline to October 28, 2019. The announcement reads: “A large amount of rehabilitation claims that the Rehabilitation Trustee fully or partially disapproved remains undetermined for being subject to …
Japanese prosecutors have reportedly dropped their appeal to the acquittal of former Mt. Gox CEO Mark Karpeles, The Mainichi reports on March 29. On March 15, the CEO of the now defunct Mt. Gox cryptocurrency exchange was acquitted of charges of embezzlement, but was found guilty of tampering with financial records. According to The Mainichi, prosecutors had initially sought to appeal the acquittal on embezzlement charges, but subsequently decided to let the decision stand. Karpeles was reportedly accused of taking 341 million yen ($3 million) of customers’ money in Mt. Gox accounts and spending it on a software developer and …
Mark Karpeles, former CEO of now-defunct Mt. Gox crypto exchange, has appealed his conviction on charges of manipulating data, The Associated Press (AP) reports on March 29. On March 15, Karpeles was acquitted of charges of embezzlement, but was found guilty of tampering with financial records, with the court stating that he manipulated data to harm his clients, betraying their trust and abusing his engineering skills. The Tokyo District Court reportedly found Karpeles guilty of combining his personal assets with those of the exchange in order to conceal the platform’s losses to hackers. Karpeles reportedly received a two and a …
The trustee of hacked, now-defunct cryptocurrency exchange Mt. Gox has posted another update on the long-running process of refunding the exchange clients. Nobuaki Kobayashi, a Tokyo attorney appointed to act as civil rehabilitation trustee to manage Mt. Gox’s bankruptcy estate funds, announced Thursday that the Tokyo District Court ordered that “There were no grounds for disapproving the draft rehabilitation plan.” As previously reported, the plan was filed on Dec. 15, 2020. According to the announcement, the court has approved a repayment process schedule that includes a vote by creditors on the proposed refund plan. As part of the process, the …
Former CEO of now-defunct Bitcoin (BTC) exchange Mt. Gox, was denied his motion to stay the United States lawsuit against him in light of rehabilitation proceedings in Japan, fintech news agency FinanceFeeds reported on March 1. On Thursday, Feb. 28, the motion by ex-Mt. Gox CEO Mark Karpeles was reportedly denied by the Illinois Northern District Court judge Gary Feinerman. The court also ruled to extend the deadline to submit responses to any already provided discovery requests to May 15, 2019. Karpeles filed a motion to stay the U.S. case launched by former investors on Monday, Feb. 25. In the …