Mark Karpeles, former CEO Mt. Gox, seeking to put an end to litigation filed

Mark Karpeles, former Mt. Gox, seeking to end the lawsuit relating to the 2014 hack of the exchange. In papers filed in Chicago federal court on January 8, Karpele said that he had the right to make a summary judgment with as the main plaintiff in the case because the court held that his original statement was not valid.

Mark Karpeles wants to end the lawsuit filed by an Mt. Gox

The trial was initiated by Gregory Greene, accusing Mark Karpeles of embezzling approximately 340 million yen (about $ 3 million) from Mt. Gox and manipulating the ledger of the exchange to increase its cash balance.

In March 2019, Karpeles was acquitted on charges of embezzlement but charged with falsifying financial records. He was charged with combining his finances with those who exchanged to hide the damage of the platform to hackers. Karpeles has also previously appealed to this verdict.


Mark Karpeles, former Mt. Gox

In the introduction of the application, Karpele’s lawyer said:

“After resolving complaints against other defendants in mid-2018, instead of withdrawing claims based on allegations that Greene quickly admitted in the next finding to be untrue or not support, Mr. Greene persevered in pursuing these requests. It is time to end this lawsuit.”

Karpele is seeking approved summary judgment on three counts: conversion, negligence, and consumer fraud. On the first issue, Karpele argued that there was no evidence to support Greene’s claim that Karpele had converted any Bitcoin or fiat on Mt. Gox.

Second, Karpele argued that Greene lacked evidence to support his claim that Mt. Gox requires adequate security procedures to manage the amount of Bitcoin it stores.

Moreover, on a legal basis, Karpele argued that Greene did not follow the ‘a duty of reasonable care’ owed to him that would be recognized under Illinois law. This alone is sufficient to warrant a summary sentence of this crime.

Karpele’s history states:

“Where there is no Illinois law recognizing a specific obligation. Courts often choose a limited accountability explanation, instead of a more extensive explanation, creating more responsibilities.”

In a lengthy review of the many points made in Greene’s initial testimony, Karpele finally stated that he was due to a summary verdict for the third crime, consumer fraud, based on Green’s account conflicts with himself and had no basis.

It seems that Karpele is tired of the years-long lawsuit and wants to resolve the case thoroughly. With the arguments he made, it was unknown how the court would handle it. AZCoin News will continue to update the latest details of this case to you!

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