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Updated 16:56 25/02/20

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MtGox Founder refuses to attend bankruptcy hearing

Adam Pike, News Editor
16 Apr 2014, 10:15 a.m.

Mark Karpeles, founder of the bankrupt bitcoin exchange MtGox, is refusing to attend the bankruptcy hearing in Washington on Friday.

MtGox filed for bankruptcy in both the U.S. and Japan in February after reportedly losing £300 million worth of Bitcoins.

A U.S. judge ordered Mr Karpless to travel from Japan to America to answer questions in front of the U.S. Department of Treasury’s Financial Enforcement Network regarding the exchanges failures.

Mr Karpless lawyers confirmed that the former CEO would not attend and reiterated that Mr Karpless has not been charged with any crime.

The value of one Bitcoin is currently worth around $500, down from last year’s all-time high of $1,100.

View original source at: www.bbc.co.uk

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