Mt Gox head convicted of manipulating data, cleared of theft

TOKYO — Mark Karpeles, who headed the Tokyo-based bitcoin exchange Mt. Gox, which went bankrupt after it was hacked, has been found guilty of manipulating electronic data but cleared of embezzlement and breach of trust charges.

The sentence handed down Friday of two years and six months, suspended for four years, means Karpeles will not have to serve time in prison.

Karpeles, arrested in August 2015, was accused of taking money from his clients. He said he was innocent, arguing he did not pocket the money that was lost by his exchange.

Prosecutors had demanded 10 years in prison.

Karpeles, appearing in court in a suit, listened quietly to the verdict.

His case drew global attention, coming at a time when cryptocurrencies were still relatively new.

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