Mt. Gox’s Karpeles: Embezzled Funds ‘Spent on Prostitutes’

Mt. Gox’s Karpeles: Embezzled Funds ‘Spent on Prostitutes’

Shamed Mt. Gox former CEO Mark Karpeles allegedly used suspected embezzled funds to pay for prostitutes, new reports claim. Citing Japanese newspaper Yomiuri, local news publication Astrowani writes that Karpeles “spent an unspecified sum on prostitutes.” Another agency citing police makes reference to “several women whom he met at venues that offer sexual services.” Mt. Gox bitcoin CEO Mark Karpeles re-arrested on charges of embezzlement. The embattled ex-CEO is currently being held by Japanese police after it was alleged that he wired 20 million Yen (US$166,000) of Mt. Gox funds to his....


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The story of Mt. Gox is getting murkier; reports in Japanese media suggest that the disgraced Bitcoin exchange Mt. Gox's CEO, Mark Karpeles, could have used the embezzled funds on sex workers. As per a report in The Japan Times, the erstwhile CEO was facing fresh charges while Jiji Press, another news outlet, citing the police, said that he used the funds on "several women whom he met at venues that offer sexual services." Mt. Gox was based in Tokyo and was shut down last year after it acknowledged that 850,000 Bitcoin, worth around $480 million at that time, had disappeared from its....

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