Well, looks likes karma time for Karpeles. Wonder if he'll finally reveal the true whereabouts of the missing bitcoins for a plea deal...
Apparently this initial charge of 'falsifying financial records' is just the beginning. More serious criminal charges such as fraud, embezzlement, etc, is most likely to follow in several weeks.

Mt. Gox bitcoin exchange CEO Mark Karpeles arrested in Japan
Karpeles is accused of tampering with financial records to inflate his bank account by $1 million -- and a former employee has ended his silence over the Mt. Gox debacle.
Former Mt. Gox CEO Mark Karpeles has been arrested in Tokyo on suspicion of financial fraud.
As reported by the Associated Press, the Tokyo Metro Police have arrested the 30-year-old on suspicion of falsifying financial records in the Mt. Gox computer system in order to inflate his own bank account by $1 million.
Karpeles allegedly fiddled with the once-dominant bitcoin exchange's systems in 2013, and if found guilty, could face up to five years in prison or a fine of up to 500,000 yen ($4,000).....
.....Barr and other former employees conducted their own investigation and through estimates and guess-work, ascertained the model and financials of Mt. Gox didn't quite add up. Barr commented:
"The expenditures far exceeded every model we had for income. I confronted Mark about it, told him I couldn't take the role if he couldn't explain this gross incompetence in spending (he was also asking employees other than myself to find investors ... something impossible without knowing the financial status of the company).
Around the same time, we learned that Mark only had one bank account, shared with Mt.Gox's customer deposits. That was the nail in the coffin."