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Toughen up. Mt. Gox’s ex-CEO only had a ‘little calculator’ to prepare for trial

  • Mark Karpelès, the former CEO of Mt. Gox, compared his experience preparing for trial to that of Sam Bankman-Fried, the former CEO of FTX, who is trying to get released from prison to prepare for his upcoming trial.
  • Karpelès, who was arrested in 2015 for allegedly misappropriating $3 million of Mt. Gox customer funds, mentioned that he only had a simple calculator for computing power when he was arrested.
  • He eventually earned release under bail using the calculator and was cleared of all charges.
  • Karpelès faced 11 months and 15 days in pre-trial detention and did not have access to any evidence until 7 to 8 months into his detention.
  • He used folders and stickers to create an index of the evidence he received from his legal counsel.
  • Initially, Karpelès planned to use an abacus for calculations, but a prison guard informed him that he could use a calculator for accounting cases.
  • Karpelès spent around $120 to buy the best calculator available, which could perform various calculations and even had buttons for consumption tax.
  • After four years, Karpelès was cleared of all charges thanks to the calculator and the work of his lawyers.
  • Bankman-Fried’s lawyers filed a request for his release from prison, citing poor internet access as a hindrance to trial preparation, but the request was denied.
  • Bankman-Fried is facing 12 criminal charges and has pleaded not guilty to all counts.
  • The upcoming trials for Bankman-Fried are scheduled to begin on Oct. 2, 2023, and March 11, 2024.

Mark Karpelès, the former CEO of the collapsed exchange Mt. Gox, seems to have little in the way of sympathy for former FTX CEO Sam Bankman-Fried, who’s been trying to get released from prison to prepare for his upcoming trial, citing poor internet.

Finally, four years after his initial arrest in August 2015, Karpelès was said to be cleared of all embezzlement and breach of trust charges, “all thanks to that little calculator” and “of course the tremendous work” done by his lawyers.

Karpelès’ comments come days after lawyers for Bankman-Fried filed a request to have him released from prison, claiming that his poor internet access was a significant impediment to the preparation for the upcoming trial.

Bankman-Fried currently faces 12 criminal charges, which will be spread across two trials scheduled to begin on Oct. 2, 2023, and March 11, 2024. He has pleaded not guilty to all counts.

Renewed by coinpostman

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