Published On: Fri, Jul 15th, 2016

Karpeles Out on Bail – Now What?

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In what must have been the story of the 1st half of 2015, Mt. Gox faced closure and bankruptcy under the direction of Mark Karpeles following a long stint of halted cash withdrawals and the resulting lockdown of Bitcoin withdrawals. As such, it isn’t hard to imagine that he had been taken into police custody in the following months due to suspected embezzlement.
See Also: Mt Gox Trustee In Favor of Publicizing Exchange Addresses
According to News24 Karpeles is expected to have paid just under 90K USD or 10M Yen to the Tokyo District Court thus securing bail and has left police custody on the condition that he will not flee the country of Japan. Speculation had run rampant as to where the funds to make bail came from with some Redditors speculating that perhaps his wife (who mysteriously was sent off to Canada before initial incarceration) had footed the bill. Compared to the $1,000,000 bail paid out by Charlie Shrem for his cooperation with law enforcement in helping and Silk Road, Karpeles was given a bargain. Take note that Karpeles is likely to be sentenced and charged with further prosecution time if determined guilty.

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