Mark Karpeles, the CEO of the failed bitcoin exchange Mt Gox, was released on Thursday on bail after his arrests in Tokyo in August 2015 for alleged bitcoin embezzlement case.
According to a Japanese media, French-born Karpeles, 31, was approved the ¥10 million ($94,500 approx) bail by Tokyo District Court which he paid on Thursday with the condition that he wasn’t to leave Japan during the bail.
Following the bail, there were discussions on Reddit social media where users speculated who had paid the bail amount. One of the users has predicted that his wife who is in Canada would have paid the bill, Silicon Angle reported.
According to the prosecutors, Karpeles, between September and December 2013, transferred ¥341 million of clients’ money to his personal bank account. Previously, Yomiuri newspaper stated that the funds were spent on purchasing software rights and a $48,000 bed.
Mt Gox once accounted for 80% of bitcoin trading volume but ever since it announced its bankruptcy, it has been surrounded by scandals.
http://www.econotimes.com/Mt-Gox-CEO-released-on-bail-in-alleged-bitcoin-misuse-case-236640