Mark Karpeles, the head of now defunct Mt Gox Bitcoin Exchange is out of the Japanese prison after 10 long months. Arrested in August last year on suspicion of embezzlement of Mt Gox investors’ funds, he was imprisoned during the course of the investigation into the collapse of the once largest bitcoin exchange.
Mark was able to walk out of the prison after he managed to furnish the bail amount of 10 million Japanese yen, equivalent to nearly $94000 on Thursday. As a condition of the bail, Mark Karpeles is not allowed to leave Japan until the investigation into Mt Gox is complete. Apart from embezzlement of over $2.6 million from the company’s account holding investors’ funds he was also arrested for falsifying data on the exchange system to inflate the bitcoin balance.
There is no conclusion to the Mt Gox investigation yet. However, a portion of the recovered funds during the investigation is being disbursed among some of the investors by Kraken.
There are few questions raised about the bail money and how he managed to raise close to $100,000. The entire story behind it is yet to unfold.