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The head of a failed cryptocurrency exchange defended himself in court using a calculator
The former CEO of the bankrupt Mt. Gox, Mark Karpeles spoke about his experience in prison and defending himself in court, comparing it to the situation of former FTX CEO Сем Бенкман-Фрід" href="https://noworries.media/biography/sem-benkman-frid/" data-bio-id="3697">Sam Bankman-Fried.
The former FTX executive is trying to get out of jail to prepare for his upcoming trial, citing poor internet. However, according to Karpeles, Bankman-Fried is too picky. «When I was arrested in 2015, the most computing power I had was a simple calculator,» Karpeles wrote in a post on the X platform.
When I was arrested back in 2015, the most computing power I got was a simple calculator (±*/√). Had 20 000 pages of evidence including over 5000 pages of accounting. Calculation I did at the time helped me to earn release under bail and eventually be cleared of all embezzlement…
— Mark Karpelès (@MagicalTux) September 13, 2023
In 2015, Karpeles was arrested twice on suspicion of embezzling nearly $3 million from Mt. Gox customers. Karpeles was eventually released on bail with the help of a "small calculator" he bought at the prison store. Eventually, all charges were dropped.
"I spent a total of 11 months and 15 days in pre-trial detention, with no access to any evidence for 7-8 months," said the former Mt. Gox ex-director.
— Mark Karpelès (@MagicalTux) September 14, 2023
«I spent about $ 120 to buy the best calculator the store had. It could add, subtract, multiply and divide,» Karpeles explained. Thanks to the calculator and the tremendous work done by his lawyers, Karpeles was cleared of all charges of embezzlement and breach of trust.
Karpeles' comment came a few days after Bankman-Fried's attorneys filed a motion to have him released from jail, arguing that poor internet access was a significant impediment to preparing for the upcoming trial. District Court Judge Lewis Kaplan denied the motion for temporary release on September 12, stating that poor internet access was not a sufficient basis for release.
Currently, Benkman-Fried faces 12 criminal charges, which will be considered at two trials scheduled for October 2, 2023 and March 11, 2024. He has pleaded not guilty to any of the charges.