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

Yeah right...

[Anonymous Coward]

Come on over to the US for trial, we promise to treat you fairly.
It might very well be that the mtgox CEO is corrupt, but in the current state of affairs why whould anyone trust the US government enough to go there of their free will to testify?

Re:Yeah right...

[i kan reed]

Point of fact: he ran a bank that lost a whole bunch of people's money. If he comes here for trial, he'll probably get a bail out and a bonus.

Re:Yeah right...

[gstoddart]

Point of fact: he ran a bank that lost a whole bunch of people's money.

Point of fact: he ran something which people think looks like a bank, but wasn't.

This is more along the line of a private company offering to hold onto your money for you.

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.

Japan and technology

[Anonymous Coward]

There are serious doubts as to Japanese law enforcement's abilities to deal with the technical issues involved.

It's well known Japanese are technically illiterate and that Japan is a third world country with no tecnical expertise.

Re:Japan and technology

[causality]

If I didn't use the word "enlightened", it was not an accidental omission. Effectively putting words in my mouth by adding connotations I was careful to omit, and then complaining about the presence of the connotations you just added, well, that really doesn't benefit anyone. It does, however, represent the general decline of Slashdot because far too many people are either doing that, or disclaiming claims that were never made in an attempt to prevent someone else from doing that. Look deeply at the situation and you will find within yourself a subconscious (you see and understand that word "subconscious", right?) need to display your cleverness and to appear "right" in the eyes of others, i.e. what is commonly called insecurity. It leads to all sorts of absurd behavior like this.

The point (that you had to work to miss) was: in a supposedly representative republic that supposedly carries out the will of The People, extremely unpopular laws were impossible (and downright dangerous) to enforce. It's no coincidence the population at that time had far fewer opiates in the form of entertainment, sports, and becoming obese. Now contrast that with, for example, the modern ongoing prohibition of marijuana that most people do not support.