Former Mt. Gox Bitcoin Bigwig Found Guilty, Won’t Likely Do Time

TOKYO—The former chief of what was once the world’s largest bitcoin exchange was found guilty of producing illegal records Friday but was cleared on other charges and given a suspended sentence, meaning he probably won’t have to serve prison time.

The ruling by the Tokyo District Court came five years after the Mt. Gox exchange run by Mark Karpelès collapsed in February 2014 after losing 850,000 bitcoins then valued at around $470 million.

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