Karpeles at court

https://cointelegraph.com/news/mt-gox-trial-update-karpeles-admits-willy-bot-existence

"Former Mt. Gox CEO Mark Karpeles has admitted operating a so-called ‘Willy Bot’ (obligation exchange) before prosecutors in Japan.

As Karpeles’ trial continues at Tokyo District Court, live rolling coverage is available online thanks to Kolin Burges, a Mt. Gox creditor and creator of action website mtgoxprotest.com.

Karpeles claimed that running the Willy Bot was “for the good of the company so not illegal,”
 
The show is over for a few months:

"Hearing ended after 5 minutes and is scheduled to resume sometime in October.Prosecution said they can't verify the deffence's claims about revenue etc right now because the investigator in charge of that is not here."

Explanation:

"The Karpeles trial will begin this coming week, but it will only last for two days in the first instance. There is likely to be a long break after that – perhaps for months.
It will be held on Tuesday 11th July at 10am JST at the Tokyo District Court, and then on Thursday 13th July at the same time.
We are not expecting anything from the realms of excitement to be visiting the courtroom this week. It will be a big media field day of course and many people will not manage to get through the door, but the trial itself is likely to consist of some standard reading out of charges and a lot of formalities. "
 
Interesting tidbit from mtgoxprotest.com:

" Due to a legal technicality, the assets of MtGox now exceed the level of creditor debt which has been officially recognised. This means that the proceeds from the sale of our remaining 200k bitcoins (now worth $500m) will be split and anything over a certain amount will by default go to the shareholders of MtGox, mainly Mark Karpeles. Therefore as the price of bitcoin rises, we lose more and more of their value."

So if this is correct and BTC doesn't collapse in the next few years, it is possible Karpeles gets 3 years in prison, a maximum 4K dollars fine and by the time he gets out of prison he is still a multi millionaire...
 
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