His lawyers will probably be in court filing for bankruptcy within a week.

More like dank.

Someone started their Friday night partying a little early (and has no idea what "treason" means).

Class action against MtGox filed in Chicago.

http://www.scribd.com/doc/209741761/Greene-v-MtGox-Inc-Mt-Gox-Class-Action

The Australian government has nothing to do with the shark cull.  That's the Western Australian government (Queensland and WA are our Florida and Arizona) and it's the subject of legal appeals right now.

The link is to a 2010 story about how a whack-job politician wanted laws applied.

Nothing new.  All of this was known yesterday.

http://two-bit-idiot.tumblr.com/

And the cops will care why?  It's a private forum, they can delete anything they want.  They can delete everyone's PMs and posts if they they want to.

The only thing calling the cops is likely to result in given that you're clearly off the planet at the moment is an involuntary weekend away in a psych ward.

Approximately half of the people on MtGox database are verified.  Just paying out customer balances would work out to a ridiculous amount per customer for simply acquiring the database.  Buying the database wouldn't solve any of the other issues which limit the potential for operating tGox as a viable business, such as the regulatory issues or creating new infrastructure - you'd be looking at significant additional costs for addressing those issues.

Realistically, you could likely start a new exchange from scratch for what it would cost to acquire the MtGox customer database.

FinCEN has no power to "bail out" anyone.

Translation : OP has filed a report with Australian authorities making certain allegations in relation to the collapse of MtGox and Australian authorities may investigate those allegations.

There have been many threads in which posters have indicated that they contacted their local authorities regarding the collapse of MtGox.  There's little doubt that investigators will look for evidence on Bitcointalk as they've done in previous investigations (pirate, SR).  

MtGox posted here a lot in its early days and the forums certainly provide a historical record of them making claims in respect of the legality of their operations as well as a record of the times when significant players within the Bitcoin community have vouched for MtGox.  That doesn't imply any legal obligation on the part of these forums to ensure that information posted here in respect of MtGox is correct or for individuals who use or operate this forum to disclose to others what they know about MtGox.  Legally speaking, collusion requires fairly specific types of acts.  

So yeah, it's likely that whichever authorities end up investigating MtGox will look to these forums for evidence.  Nations other than Japan and the US may or may not conduct their own investigations (they may simply request information from agencies conducting the primary investigations).  That's not the same thing as investigating the operators (including the moderators) of these forums (OP's post history shows that he's previously accused mods of "covering up" for MtGox by moving threads to sub-forums which get less traffic).

MtGox wasn't "licensed by FinCEN".  FinCEN doesn't license anyone.  It's a Department of the US Treasury which is responsible for collecting financial intelligence.  Licensed financial services are required to register with FinCEN and provide it with certain information in relation to transactions conducted by their business.

The MtGox funds which were seized by the government were seized by the Department of Homeland Security.  More specifically, it was the US Secret Service (a department within DHS) which obtained the warrants to seize the funds.

Saying that a given entity currently has no power to regulate something means little.  They can be given that power or it can be given to another government agency. 

LOL.  I take it you've never worked for small business.  Even huge companies lose staggering amounts of money on a regular basis due to flawed accounting processes.  It's even more common in smaller businesses where an owner/operator randomly chooses an accounting system they like when the business is small and never upgrades the accounting system as the business grows.  Throw in a lack of independent oversight of accounts and it's frighteningly easy for a business to run out of money before they realised any was missing.

You could, however, argue that the failure to institute proper accounting systems (which would have instantly revealed the discrepancy between the book balances of their BTC accounts and the actual balances as confirmed by the blockchain) constituted negligence on the part of MtGox.  Many smaller businesses than MtGox hold large amounts of funds belonging to others (real estate agents, lawyers, accountants, etc) and manage to ensure that the actual balances in their accounts reconcile with the numbers in their spreadsheets. 

It's shockingly easy to automate the reconciliation and verification process so that any discrepancies generate an immediate alert and no further transactions can take place until the problem is sorted.  In the 21st century, that verification process should be nearly constant and discrepancies detected in almost real time.

Mark's confirmed that the information in the "leaked document" is essentially true.

IRC chatlog.

http://www.wickedfire.com/shooting-shit/179038-my-conversation-mark-karpeles-mtgox-2.html#post2164682

FinCEN is aware of the reports regarding MtGox.


http://www.reuters.com/article/2014/02/25/us-mtgox-website-idUSBREA1O07920140225

Information on Japanese insolvency processes.

http://www.jurists.co.jp/en/topics/others_4007.html

http://www.bingham.com/Publications/Files/2012/02/A-Practical-Guide-to-Japanese-Insolvency-Procedures

Those consulting Western lawyers should make sure to mention the various legal actions already in progress, including actions by regulators (the seizure of funds by DHS and the investigation into SR money laundering activities).  The advice you get is only going to be as good as the information you provide, so leaving out critical information which may affect the viability of legal action is against your own best interests.

Who in the hell is "city hall" in this case anyway?  Exactly who do you think should be bailing out an unregulated Japanese business?  Businesses fail every day owing more than MtGox.  Should they all get a bail out too?

Mark has admitted in IRC that the information in the "leaked document" is essentially true but not produced by MtGox.


http://www.wickedfire.com/shooting-shit/179038-my-conversation-mark-karpeles-mtgox-2.html#post2164682

Those considering lawsuits should ensure that any lawyers they consult are aware of the high likelihood that Japanese insolvency proceedings will be a factor in any legal claims.

Please don't let yourselves be talked into paying lawyers proposing actions which will probably be futile.  An unenforceable judgement isn't worth the paper on which it's written.

FinCEN has already acknowledged that it's aware of reports regarding MtGox - the feds already know about this shit.


http://www.reuters.com/article/2014/02/25/us-mtgox-website-idUSBREA1O07920140225

No-one can tell you the best way because no-one knows MtGox's actual financial situation.  There are numerous threads in this sub-forum on the various options being explored by others, but the viability of those options depends on information we simply don't have at the moment.

You pretty much need to read the threads about each of the options and weigh up the pros and cons of each for yourself.  If you want someone else to decide the best option for you, then you need to consult a lawyer.  If you consult a lawyer, then you need to remember that a lawyer in your own jurisdiction may have no familiarity whatsoever with Japanese legal processes and that actions taken by others may render your own intended actions futile.  Any lawyer who tells you that recovering your funds will be simple is lying.

For what it's worth, FinCEN has acknowledged awareness of the reports regarding MtGox.


http://www.reuters.com/article/2014/02/25/us-mtgox-website-idUSBREA1O07920140225

They could still end up in handcuffs as a result of federal investigations already in progress.  No doubt the OP will want kudos if that happens.