By Mark Hunter
4 days agoFri Dec 08 2023 08:22:33
Checking out Time: 2 minutes
- Previous Binance CEO Changpeng Zhao should remain in the United States up until his February 2024 sentencing for cash laundering failure
- Zhao confessed to stopping working to safeguard versus cash laundering last month
- A federal judge reversed the judgment of a magistrate judge, who had actually at first permitted Zhao to go back to the UAE till next year
Previous Binance CEO Changpeng Zhao has actually been bought to remain in the United States ahead of his February 2024 sentencing for failure to secure versus cash laundering. United States District Judge Richard Jones turned down the billionaire’s demand to go back to the UAE on Thursday following his guilty plea in November. Zhao and Binance confessed to stopping working to execute anti-money laundering policies and breaching the Bank Secrecy Act as part of a broad contract with district attorneys that permitted the exchange to continue running and led to a $4.3 billion settlement.
$175 Million Bond Doesn’t Matter
Zhao confronts 18 months in jail for his criminal offenses, with a sentencing date set for February 23.
