The former CEO of Mt. Gox Mark Karpeles revealed that he would serve as the chief technology officer of a new Japan – registered Blockchain technology firm, reported by Japanese daily newspaper the Mainichi on the 5th of June.
The 34 – year old French man regarded as a computer prodigy has had his fair share of legal issues related to cryptocurrencies. Karpeles with interest in Japanese animation and gaming relocated to Japan in 2009, acquiring the Mt. Gox exchange site in 2011.
The exchange site collapsed in early 2014; the result of the incident was a loss of 850,000 BTC (Bitcoin) valued at roughly $460 million.
He was charged with embezzling approximately 340 million yen from Mt. Gox (around $3 million) and arrested in 2015, he spent 11 months in detention and was cleared of embezzlement and fraud allegations in March but found guilty of tampering with financial records.
He was charged with having combined his finances with those of Mt. Gox in order to hide the platform’s losses from hackers. Though prosecutors demanded a 10-year sentence, Karpeles received a suspended sentence and did not serve any jail time.
“My love for Japan has not changed,” Mark Karpeles stated at the Foreign Correspondents Club of Japan.
Karpeles stated that his goal was to help Japan regain its lead in technology from American companies like Apple, Amazon, and Facebook.
“Japan used to be engineering superpower in terms of its PCs but right now, taking the cloud, for example, it is the U.S that dominates. However, I still believe in potential Japan… and I would like to develop that,” Karpeles said.