Feeds

MtGox boss Karpeles ordered to Dallas to face bankruptcy probe

Failed Bitcoin exchange CEO must say 'sayonara' to Tokyo

Secure remote control for conventional and virtual desktops

MtGox CEO Mark Karpeles has been ordered by a judge to return to the US to face questions over his bankruptcy filing with a Dallas court and how 750,000 Bitcoins went AWOL.

Bankruptcy judge Stacey Jernigan ruled that Karpeles must appear at the Dallas office of his lawyers Baker & McKenzie on 17th April. This is ahead of a May 20 hearing which will decide whether the Bitcoin exchange will be granted Chapter 15 protection from creditors.

“If he avails himself of this court, my God, he is going to get himself over here,” Jernigan said at a hearing on Tuesday, according to Reuters.

Karpeles filed for bankruptcy in February after admitting his firm, once the world’s biggest Bitcoin exchange, had “lost” 750,000 of its customers’ Bitcoins and 100,000 of its own “due to weaknesses in the system”.

Tokyo-based MtGox then claimed to have found 200,000 in “old format wallets” a few weeks later, which still leaves around 650,000 unaccounted for.

Lawyers told Tokyo District Court that MtGox has debts of ¥6.5bn (£38.1m, $63.8m).

Angry customers, including those who have filed a class action suit against MtGox in a Chicago court, will be hoping Chapter 15 protection is not forthcoming next month.

They’re owed over $400m in lost Bitcoins and will be further irked by recent reports citing “current and former employees” which claim some of this cash may have been “diverted to cover operating costs”. ®

Secure remote control for conventional and virtual desktops

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
No, thank you. I will not code for the Caliphate
Some assignments, even the Bongster decline must
Fast And Furious 6 cammer thrown in slammer for nearly three years
Man jailed for dodgy cinema recording of Hollywood movie
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
Barnes & Noble: Swallow a Samsung Nook tablet, please ... pretty please
Novelslab finally on sale with ($199 - $20) price tag
Ballmer leaves Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
Video of US journalist 'beheading' pulled from social media
Yanked footage featured British-accented attacker and US journo James Foley
Assange™: Hey world, I'M STILL HERE, ignore that Snowden guy
Press conference: ME ME ME ME ME ME ME (cont'd pg 94)
Call of Duty daddy considers launching own movie studio
Activision Blizzard might like quality control of a CoD film
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Endpoint data privacy in the cloud is easier than you think
Innovations in encryption and storage resolve issues of data privacy and key requirements for companies to look for in a solution.
Scale data protection with your virtual environment
To scale at the rate of virtualization growth, data protection solutions need to adopt new capabilities and simplify current features.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?