The U.S Departement of Justice Advocates Local Restraint for Binance's Ex-CEO Until Sentencing

The U.S. Department of Justice Strikes a Balance: Advocating for Freedom, Yet Insisting on Location Constraints for Binance’s Former CEO, Changpeng ‘CZ’ Zhao. In a recent filing, the DOJ contends that Zhao is a manageable ‘flight risk,’ presenting a nuanced perspective on his status. CZ’s legal team counters, emphasizing his voluntary appearance in the U.S. as a demonstration of commitment and highlighting a prior judge’s assessment that he poses no flight risk, even while residing in the UAE.

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Prosecutors Contest: U.S. Attorneys Challenge Zhao’s Potential Flight Risk, Pointing to the Potential Severity of the Sentence Highlighting the absence of an extradition treaty with the UAE, prosecutors argue that Binance’s ex-CEO, Changpeng ‘CZ’ Zhao, may be incentivized to flee.

Emphasizing Zhao’s minimal ties to the U.S., they assert that his return is uncertain if allowed to leave. The filing acknowledges the significant penalties Zhao faces, providing a basis for reasonable restrictions. In a recent development, Zhao pleaded guilty to violating anti-money laundering laws, resigning as Binance’s CEO, while the exchange agreed to a historic $4.3 billion settlement for criminal and civil charges with the U.S. Department of Justice

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