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Judge Orders Bitcoin Mt. Gox CEO in Japan to Come to Texas

04.03.14

After filing for US bankruptcy protection in Texas based on a Japanese bankruptcy, the Judge ordered that Mt. Gox CEO Mark Karpeles to come to Dallas because if “he avails himself of this court, my God, he is going to get himself over here” as reported in Reuters. On April 1, 2014 US Bankruptcy Judge Stacey Jernigan (Northern District of Texas) ordered Mr. Karpeles “to answer questions related to its U.S. bankruptcy case, filed after the company lost $400 million of customers’ digital currency.”

Reuters reported that the Mt. Gox customers requested that Mr. Karpeles the “chief executive and majority owner” of Mt. Gox to testify in a 2004 deposition:

…to explain why the exchange shut down in February and what happened to their 750,000 bitcoins, which the company said were stolen in a computer hacking attack.

Given the scope of the failed Bitcoin exchange and the Mt. Gox bankruptcy, this lawsuit will continue to generate a lot of headlines.

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