Previous Binance CEO Changpeng Zhao is involved in legal procedures for breaking anti-money laundering policies in the United States. He has actually pleaded with his legal group to go back to his home in the United Arab Emirates before his sentencing.
Zhao, who relinquished his CEO position after pleading guilty, deals with possible jail time and substantial punitive damages.
Binance's Changpeng Zhao Wants to Go Home
Changpeng Zhao's counsel has actually asked for United States District Judge Richard Jones to promote the bail conditions licensed by United States Magistrate Judge Brian Tsuchida. These conditions would enable Zhao, a UAE and Canadian person, to leave the United States while he awaits his February 23, 2024, sentencing.
Zhao has actually abided by a substantial $175 million bail bond as part of his dedication to deal with the charges.
The Justice Department, nevertheless, revealed issues about Zhao's prospective flight danger. The federal firm highlighted the absence of an extradition treaty in between the United States and the UAE.
District attorneys are pushing to reverse the choice to let Zhao take a trip abroad. Offered his substantial funds, they argue that guaranteeing Zhao's return for the sentencing may be tough.
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