MtGox CEO spent embezzled funds on prostitutes

The head of collapsed Bitcoin exchange MtGox was facing fresh embezzlement charges Wednesday, as Japanese media said some of the allegedly stolen funds were spent on prostitutes. Tokyo police said they had arrested France-born Mark Karpeles, 30, for moving 20 million yen ($166,000) in client money to his bank account, as he faces fraud allegations over the disappearance of hundreds-of-millions-of-dollars-worth of the virtual currency.
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