Prosecutors Seek 10-Year Jail Term Over Money Laundering in Bitcoins and Link to Silk Road
A Former CEO has run into deep trouble with the Japanese legal system. Tokyo based prosecutors are seeking to have the former CEO sentenced to over ten years in prison for the embezzlement of company’s funds, money laundering in bitcoins, and his link to the infamous dark web marketplace called the Silk Road.
Mark Karpeles, the former CEO at Mt. Gox, is facing charges for abuse of power, embezzlement of the company’s funds and money laundering in virtual currencies during his term in office.
According to the report by a local Tokyo-based news outlet, Mark Karpeless embezzled over $3 million (340 million yen) in digital currencies – money that belonged to the company. He is said to have transferred the loot into his several e-wallet personal accounts to minimize the chance of being trac...