Mt. Gox? Mark Karpeles to appeal data manipulation conviction

Powered byBlockchain, cryptocurrencies, and insider stories by TNW.He's gonna fight the charges, while prosecutors seem chillMt. Gox‘s former chief Mark Karpelès has confirmed his intent to appeal last week’s court ruling, which found him guilty of manipulating the financial records of his embattled cryptocurrency exchange to conceal its massive losses.Tokyo‘s District Court recently handed Karpelès, a Frenchman and long-term Japan native, a 33-month suspended sentence (which means he’s likely to avoid jail). Not long after, Mt. Gox actually “found” 200,000 of the “lost” Bitcoins, which meant the rest of the missing funds mostly belonged to its customers.So far, an estimated $300 million worth of cryptocurrency is said to have been sold by a trustee in charge of distributing what’s left of Mt. Gox holdings, intended to reimburse those affected.Most recently, published documents showed the defunct cryptocurrency exchange still had access to roughly $590 million in Bitcoin and Bitcoin Cash as of late March.It also became clear Mt. Gox has $629 million in cash reserves, soon after some 23,000 creditors submitted claims to be repaid cryptocurrency they lost some five years ago.Did you know?