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Chicago court freezes US assets of Mt. Gox CEO, companies |
March 12, 2014
A U.S. district court judge on Tuesday froze the U.S. assets of Mark Karpeles, CEO of failed Bitcoin exchange Mt. Gox, and two associated companies, allowing lawyers to begin demanding documents from the three parties to investigate what they allege is a huge fraud.Mt. Gox, once the largest Bitcoin exchange in the world, suspended trading on Feb. 25. Three days later, it said it had lost around 850,000 bitcoins. At the time, the bitcoins were worth around US$474 million. The Tokyo-based exchange filed for bankruptcy protection in Japan shortly afterward, immediately raising the question of whether users would ever get their money back.Tuesday’s ruling, at the U.S. District Court for the Northern District of Illinois in Chicago, covers the CEO and Mt. Gox’s U.S. subsidiary and Japanese parent company, Tibanne KK, but it doesn’t cover the failed Mt. Gox itself, according to Chris Dore, a partner at Edelson PC in Chicago.To read this article in full or to leave a comment, please click here
Link: http://www.pcworld.com/article/2107220/chicago-court-freezes-us-assets-of-mt-gox-ceo-companies.html#tk.rss_all
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