Thursday, July 18, 2024

Prosecutors request Changpeng Zhao surrender all passports ahead of sentencing

The USA Lawyer’s Workplace has requested {that a} federal decide approve extra journey restrictions for former Binance CEO Changpeng “CZ” Zhao


In a Feb. 23 submitting in U.S. District Courtroom for the Western District of Washington, U.S. Lawyer Tessa Gorman requested Justice of the Peace Decide Brian Tsuchida approve a movement specifying the circumstances for CZ to stay free on bail. Prosecutors requested Zhao to remain inside the continental U.S. till his sentencing listening to on April 30 and provides three days’ discover for any journey to permit the federal government to lift objections.

The U.S. Lawyer’s Workplace requested that CZ give up his Canadian passport and “all different present and expired passports and journey paperwork” to his authorized workforce. Zhao additionally holds citizenship within the United Arab Emirates, the place he had requested to travel to go to household forward of his sentencing — a movement the decide denied.

In keeping with the submitting, “Zhao’s counsel object to this movement as written,” suggesting his authorized workforce could proceed to pursue a approach for the previous Binance CEO to go away the nation. In November 2023, CZ pleaded guilty to one felony count for failing to keep up an efficient Anti-Cash Laundering program at Binance. Because the indictment was filed, he has remained free on a $175 million bond.

Associated: Binance VIP traders got sneak peek of US settlement: Report

Zhao stepped down as Binance CEO as part of a $4.3 billion deal between the crypto trade and U.S. authorities. On Feb. 23, Decide Richard Jones accepted the $1.8 billion positive and forfeiture of $2.5 billion. CZ, Binance, and Binance.US are nonetheless dealing with a civil case with the U.S. Securities and Trade Fee, which filed a lawsuit in June 2023.

“This actually is a case the place the ethics of the corporate had been compromised by greed,” said Decide Jones on the Feb. 23 listening to.


After CZ’s departure, former Binance head of regional markets Richard Teng stepped up as CEO. Cointelegraph spoke with Teng in a December 2023 interview, during which the CEO described the trade as “completely completely different” in comparison with its enterprise six years prior.

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