30 Mar '14, 11am

Mt. Gox Used Client Money for Operations and Extravagances, Allege Staff #bitcoin

Mt. Gox Used Client Money for Operations and Extravagances, Allege Staff #bitcoin

Mt. Gox allegedly spent money from its clients’ deposits on operating expenses including extravagances as early as two years before it went bankrupt, according to new claims by employees. In a series of exclusive interviews given to Reuters in Tokyo, the small group of anonymous current and former Mt. Gox employees claim to have approached CEO Mark Karpeles about their concerns in early 2012, but their requests to view the company’s financial records were rebuffed. Mt. Gox spent money, said Reuters ‘ report, on rent in the same high-status Tokyo office building as Hulu and Google, office equipment that included a robot and a 3D printer, and a special edition Honda Civic imported for CEO Mark Karpeles from the UK. This occurred just as the company, and bitcoin itself, were beginning to expand and gain interest from investors. Staff kept in the dark The employees, worried th...

Full article: http://www.coindesk.com/mt-gox-used-client-money-operatio...

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