Mt. Gox Working With Japanese Cops; Creditors Want CEO To Testify In US

jfruh (300774) writes "The latest developments in the sad saga of Mt. Gox's missing bitcoins: the exchange has announced that it's working with Japanese police to try to determine who (if anyone) stole the bitcoins entrusted to Mt. Gox, resulting in the company's collapse. There are serious doubts as to Japanese law enforcement's abilities to deal with the technical issues involved. Meanwhile, Mt. Gox creditors [have rejected] Mt. Gox CEO Mark Karpeles offer to testify in their lawsuit against him from Taiwan, and have demanded that he come to the United States."

Comments

Re:Yeah right...

[DarkOx]

Which is the wost part of it. At the end of the day there was at least a period where they were accepting money and promising to deliver bitcoins he did not have and had no plan to obtain.

Yet everyone is jumping all over this to point out: see see you have to have regulations.

Which is bullshit. What they were doing was simple fraud. It does not matter if bitcoin is a currency, commodity, security or anything else, it does not require additional banking laws. Already a crime without any fancy securities laws, or regulators.

Common law fraud: is the intentional misrepresentation of material facts presented to and relied upon by another party to his detriment and in order to get them to act.