Changpeng “CZ” Zhao, previous CEO of crypto exchange Binance, should remain in the United States in the meantime, a federal judge ruled Monday. This follows Zhao pleaded guilty recently to breaching the Bank Secrecy Act.
The choice postpones an earlier judgment that would have enabled Zhao to go back to his household in the United Arab Emirates while waiting for sentencing in February 2024. District attorneys argued Zhao positions a flight threat, offered his wealth and the absence of an extradition treaty with the UAE.
Recently, a DOJ representative had earlier informed Reuters that Zhao would stay in the Seattle location up until Monday night however would be permitted to go back to the UAE.
Zhao resigned as Binance CEO after the business confessed to sanctions and cash transmission infractions. Binance consented to pay a $4.3 billion charge and cause compliance displays.
As part of his individual plea offer, Zhao set up $15 million and had guarantors use $5 million in security for a $175 million bond. He likewise confronts 10 years in jail and should pay a $50 million fine.
Will CZ wind up behind bars? ยป …
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