Menu
Mt. Gox asks for postponement of Karpeles' deposition in U.S. court

Mt. Gox asks for postponement of Karpeles' deposition in U.S. court

Karpeles seeks to appear tentatively on May 5 before the court

Mt. Gox CEO Mark Karpeles, who was ordered to appear before a U.S. bankruptcy court to answer questions, has asked for a postponement of his deposition.

In an emergency motion, Karpeles seeks to appear before the U.S. Bankruptcy Court for the Northern District of Texas, Dallas Division, tentatively on May 5 rather than at a Thursday appearance set by the court.

The filing on Monday by the failed Bitcoin exchange cited Karpeles' need to hire a counsel in connection with a subpoena from the Financial Crimes Enforcement Network (FinCEN) of the U.S. Department of the Treasury to appear before it and provide testimony on Friday in Washington, D.C. FinCEN has been scrutinizing virtual currencies recently.

Until such time as counsel is retained and has an opportunity to "get up to speed" and advise Karpeles on the FinCEN subpoena, "he is not willing to travel to the U.S.," according to the filing. The subpoena from FinCEN did not attach a document request and did not specify topics for discussion, it added.

The Tokyo exchange filed on March 9 for bankruptcy protection in the U.S., after filing for bankruptcy in Tokyo District Court on Feb. 28.((

The company suspended trading on Feb. 25 and said it had lost around 750,000 Bitcoins owned by customers and around 100,000 belonging to the exchange, valued at US$474 million at the time.(The exchange later said it found 200,000 bitcoins, worth about $116 million.

On March 25, Gregory D. Greene and Joseph Lack, plaintiffs in another U.S. litigation filed a motion to compel testimony by Karpeles in the bankruptcy court, which ordered his deposition in Dallas, Texas on Thursday. Greene and Lack have filed a class-action suit in Illinois, alleging that the exchange was involved in fraud and the theft of bitcoins.

Mt. Gox was non-committal on whether the process of hiring a lawyer would be complete by May 5. The exchange said in the filing that it "cannot guarantee that Mr. Karpeles will attend the deposition on May 5, 2014, either."


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags internetlegalInternet-based applications and servicesMt. Gox

Featured

Slideshows

Meet the Reseller News 30 Under 30 Tech Awards 2020 winners

Meet the Reseller News 30 Under 30 Tech Awards 2020 winners

This year’s Reseller News 30 Under 30 Tech Awards were held as an integral part of the first entirely virtual Emerging Leaders​ forum, an annual event dedicated to identifying, educating and showcasing the New Zealand technology market’s rising stars. The 30 Under 30 Tech Awards 2020 recognised the outstanding achievements and business excellence of 30 talented individuals​, across both young leaders and those just starting out. In this slideshow, Reseller News honours this year's winners and captures their thoughts about how their ideas of leadership have changed over time.​

Meet the Reseller News 30 Under 30 Tech Awards 2020 winners
Reseller News Exchange Auckland: Beyond the myths — how partners can master cloud security

Reseller News Exchange Auckland: Beyond the myths — how partners can master cloud security

This exclusive Reseller News Exchange event in Auckland explored the challenges facing the partner community on the cloud security frontier, as well as market trends, customer priorities and how the channel can capitalise on the opportunities available. In association with Arrow, Bitdefender, Exclusive Networks, Fortinet and Palo Alto Networks. Photos by Gino Demeer.

Reseller News Exchange Auckland: Beyond the myths — how partners can master cloud security
Reseller News welcomes industry figures at 2020 Hall of Fame lunch

Reseller News welcomes industry figures at 2020 Hall of Fame lunch

Reseller News welcomed 2019 inductees - Leanne Buer, Ross Jenkins and Terry Dunn - to the fourth running of the Reseller News Hall of Fame lunch, held at the French Cafe in Auckland. The inductees discussed the changing face of the IT channel ecosystem in New Zealand and what it means to be a Reseller News Hall of Fame inductee. Photos by Gino Demeer.

Reseller News welcomes industry figures at 2020 Hall of Fame lunch
Show Comments