It looks like Mark Karpelès (photo below) will be facing up to five years in jail as the Japanese authorities are pressing charges against him regarding the Mt. Gotx bankruptcy that lost 850,000 bitcoins (worth about 2 Billion in todays BTC price) and $28m of users money.
Mr. Karpelès has plead not guilty to the lost of all of these bitcoins and money from mostly Japanese Mt. Gox account holders. To give people an idea of just how big Mt. Gox was at the time, Mt. Gox handled about 80% of the global bitcoin trades around the world at its height. Mt. Gox was THE exchange before shutting its doors and being bankrupt in February 2014. It is also stated that Mr. Karpelès is being accused of embezzlement and data manipulation.
Mr. Karpelès was arrested in 2015 and since then has posted bail and has been released but cannot leave the Japanese shores. We will see how this pans out as the story continues to unfold!
Lets discuss this down in the comment section.
Jeti Knight.