Bitcoin Probe: Why Mark Karpeles Can’t Avoid the Judge’s Order to Appear in Dallas Court

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Judge Orders Mt. Gox CEO Mark Karpeles to Appear in US Bankruptcy Court

ForexMinute.com – It has been proved that Mark Karpeles is doing everything he can to avoid appearing in the US Court. And the ruling by Judge Jernigan has indeed put him in a lose-lose situation. If he ignores to appear before the court, he will instantly lose the bankruptcy protection and the pending lawsuits against Mt. Gox will become active instantly. And if he appears, that will make face the cold-jolt questions which, we believe, he won’t be going to answer well.

The Chief Executive Officer of Japanese Bitcoin exchange Mt. Gox, Mr. Mark Karpeles earlier denied to travel to US for a scheduled hearing in Dallas court; in response to which US Bankruptcy Judge Stacey Jernigan took a strict stand and ordered him to appear anyhow on April 17 at Baker & McKenzie, Mt. Gox’s law firm, we reported earlier today.

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Mark Karpeles’ testimony on the Mt. Gox shut down is very necessary, based on which the court will decide whether they should be given Chapter 15 bankruptcy protection or not. The CEO has been under a lot of criticism lately for allegedly stealing customers’ 850,000 Bitcoins by faking a hacking attempt. His own employees have accused him of using customers’ accounts for the company’s and his personal expenditures. Such questions are likely to be raised in the April 20th hearing in a US court, which many believe Mark Karpeles is trying to avoid.

His every trick to ignore the US court also seems to be going haywire. Earlier, he had proposed to appear via video conferencing from Taiwan, which was refused by the court. His attorney John Mitchell of Baker & McKenzie too pleaded the court to consider Mark Karpeles as a “foreign representative” of Mt. Gox rather than the CEO.
“He filed the case,” Judge Jernigan replied straightforwardly.

We are now waiting for Mark Karpeles response to the court. Keep watching this space to stay upgraded with the news.

To contact the reporter of the story: Yashu Gola at yashu@forexminute.com