Japanese Bank Denies Aiding Alleged Mt. Gox Fraud

Law360, Chicago (March 27, 2014, 3:16 PM EDT) -- Japan-based Mizuho Bank Ltd. on Thursday denied that it ignored an alleged fraud taking place under its nose at Mt. Gox, telling an Illinois federal judge that it should be dismissed from a class action against the bankrupt bitcoin exchange and its CEO.

Mizuho was recently added as a defendant in the suit, which accuses Mt. Gox CEO Mark Karpeles of defrauding his customers. The bank, which held accounts for Mt. Gox and processed wire transfers from its customers, allegedly turned a blind eye to the...
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