Mt Gox Fallout: Lawsuit Against Mizuho Bank Approved by US Judge
A federal judge in Chicago has ruled that a U.S. lawsuit claiming that Japan’s Mizuho Bank inflated customers’ losses directly by limiting withdrawals from their Mt Gox accounts, as the now-defunct exchange’s banking partner, can move forward. Furthermore, the Judge also rejected the bank’s argument that the case should be moved to Japan from the United States, a report by Reuters revealed. It was 2014 when one of the world’s largest bitcoin exchanges failed when Tokyo-based Mt Gox collapsed. The fallout saw multiple lawsuits filed against the exchange and its founder and CEO Mark Karpeles....
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A US Court has dismissed the appeal filed by Mizuho Bank against Mt Gox customers' class action lawsuit. Mizuho Bank recently found itself in a legal trouble after its association with defunct Bitcoin exchange Mt. Gox was recognized by a US court. The bank’s name surfaced in the notorious Bitcoin theft case when some of its victims claimed that their withdrawal requests was denied by the Japanese bank. The Mt. Gox victims, on the grounds of denial of rightful requests by Mizuho, later filed a class action lawsuit against the bank. According to the lawsuit, Mizuho Bank intentionally wreaked....
A US judge largely denied a bid last week by Mizuho Bank to dismiss charges filed against it in a class action lawsuit tied to the collapse of defunct bitcoin exchange Mt Gox. In a court order dated 26th August, US District Judge Gary Feinerman ruled Mizhuo should face charges related to unjust enrichment and fraudulent concealment in connection with the exchange's failure. Despite claims by the bank it had no formal business relationship with Mt Gox, Feinerman found the parties had a "transactional relationship". The order is the latest to speak to the complex dealings between....
A US district judge has rejected a claim by Mizuho Bank that a class action lawsuit related to its relationship with failed bitcoin exchange Mt Gox should be moved to Japan. Once the largest global bitcoin exchange, Tokyo-based Mt Gox collapsed in 2014, eventually filing for bankruptcy. Since then, the exchange, and its founder and CEO Mark Karpeles, have been embroiled in a lawsuits from customers seeking to recover millions in customer funds that remain unaccounted for. Mizuho was first named as a defendant in a class action lawsuit brought by former exchange users in March 2014 as it....
An interesting development is taking place in the infamous Mt. Gox lawsuit, as Mizuho Bank has been accused of not revealing the full extent of the problems faced by Mt. Gox from American depositors. Mizuho Bank had claimed it would be too difficult for their lawyers to handle the Bitcoin exchange case outside of Japan and tried to shed off any responsibility due to the alleged lack of jurisdiction. But what does this mean for affected Mt. Gox users? The Role of Mizuho Bank In Mt. Gox. Very few people are aware of how Mizuho Bank was responsible for managing all of the American fiat....
Mizuho is the latest in a string of organizations facing heat over connection to MT. Gox. (Reuters) Connection to the former leading Bitcoin exchange, Mt. Gox, has entangled another business partner in the exchange's highly publicized demise. One of Japan's largest lenders, Mizuho Bank Ltd., was added as a defendant to an existing U. S. lawsuit against Mt. Gox. The suit alleges that Mizuho aided Mt. Gox's fraud by providing banking services to the troubled exchange. Mizuho held fiat currency on behalf of Mt. Gox and its customers, and the amended lawsuit claims that the lender mingled....