• Sun, 25 Aug 2019, 11:12 PM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
Link copied

Former Mt. Gox CEO Mark Karpeles to face class-action lawsuit in US

Court Gavel.wp paarz/Flickr

Thu, 01 Aug 2019, 05:25 am UTC

Following a recent ruling, the former CEO of the ill-fated Mt. Gox crypto firm Mark Karpeles will go on to become the defendant in a class-action lawsuit in relation to the infamous 2014 incident.

In an unmistakable rebuke against the move to have the lawsuit against Karpeles in the Philadelphia court where it was filed dismissed, District Judge Robert Kelly said no. Judge Kelly was not moved by the argument that the court did not have jurisdiction over the former Mt. Gox CEO in the lawsuit by U.S.-based customers of Japan-based Mt. Gox, Reuters reports.

As a result, the case will now be going ahead where plaintiffs will be seeking justice against Karpeles for hiding the fact that Mt. Gox had suffered a breach, which then resulted in bitcoins getting stolen and ultimate collapse of the crypto exchange. Among those who became victims of the theft were citizens of Philadelphia, thousands of whom had accounts with the defunct firm.

This is why Judge Kelly decided to hear the case out. However, it’s worth pointing out that this is just the starting point in the lawsuit. It is also worth noting that the lawsuit, which was filed in 2018, also included Mizuho Bank, CoinDesk reports.

However, since the bank itself has been concluded to be not under the jurisdiction of the court, only the part about Karpeles will be heard. This particular lawsuit is just one of several that have been filed against Karpeles, with the defendant’s legal team successfully having some dismissed. On example was the lawsuit filed in Canada in 2016 that was thrown out.

Karpeles was even found innocent in a case in Japan where he was accused of embezzlement, among other things. Clearly, his defense team hoped that they could see a repeat of these events with the Philadelphia court. If they could not have the class-action lawsuit dismissed, Karpeles can still be found innocent.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $10,090.90 (-0.26%)
  • Ethereum (ETH) $186.54 (-1.94%)
  • XRP (XRP) $0.269600 (-0.83%)
  • Bitcoin Cash (BCH) $304.77 (-0.54%)
  • Litecoin (LTC) $72.21 (-1.51%)
  • Bitcoin (BTC) $10,090.90 (-0.26%)
Aug 23, 2019 (Friday)
11:35
Stablecoin project Terra receives funding from HashKey Capital
10:49
Three of the founding members of Libra Association consider backing out: Report
08:55
Overstock's Patrick Byrne steps down as CEO
08:52
Pundi X brings XPOS crypto payments to Venezuela's Traki retail stores
07:22
Blockchain startup Blockstack scores strategic investment from Japan's Recruit Holdings
07:19
BitGo announces support for multi-signature EOS wallet and custody services
06:39
US Treasury blacklists crypto addresses of suspected Chinese fentanyl traffickers
06:14
Chainalysis launches ‘Chainalysis KYT Alerts’ to detect suspicious cryptocurrency activity in real-time
05:13
Cryptocurrencies used to buy fentanyl, other illicit drugs: White House
05:04
Blockchain energy startup Power Ledger extends energy trading trial in Fremantle
03:53
Blockchain accelerator initiatives launched at the University of California campuses
Aug 22, 2019 (Thursday)
13:05
Crypto exchange Coincheck mulls launching IEO Platform
12:46
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
11:53
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
11:42
Sierra Leone launches blockchain-based National Digital Identity Platform
10:43
Blockchain startup Blocko secures $7.4M in Series B+ round from major South Korean financial institutions
09:52
Crypto Technicals: Ethereum Classic ignores crypto space weakness, extends gains to break above 200-DMA
09:16
Former Zaif exchange owner Tech Bureau to discontinue crypto business after completing customer refunds
08:32
Crypto Technicals: XLM/USD bearish trend intact, hits multi-month lows at 0.06542
07:33
Russian firm ICORating settles $270K fine with SEC for concealing ICO touting payments
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft