Binance Founder Changpeng ‘CZ’ Zhao Yet To Enter Prison: Report

According to a Protos report, Binance founder Changpeng Zhao (CZ) is yet to commence his four-month sentence. This is due to some formalities in the criminal justice system that need to be followed.

Why Binance Founder is Yet to Enter Prison

The report stated that the Binance founder was supposed to receive a notice from the Probation or Pretrial Services Office to commence his sentence, as signed by the Judge.

Contrary to this expectation, CZ is yet to be notified, and he has, therefore, not commenced his sentence. As a reminder, CZ pleaded guilty to violations of the US anti-money laundering acts.

Federal statute 18 U.S.C. § 3585(a) states that a criminal’s sentence commences when that person is ‘received in custody, awaiting transportation to, or voluntarily surrenders to, the official detention facility at which her sentence is to be served.’ 

While the jail term can begin immediately on the day of the sentencing, three possibilities can contribute to delay. The first possibility is that a sentenced individual can be asked by a Judge to first surrender to the US Marshalls. If this is the case, the individual would either be escorted by the Marshalls or later be notified when to physically go to prison.

In the second instance, the delay might arise if a judge authorizes the Probation or Pretrial Services Office to notify the defendant of their prison entry date. Furthermore, the judge might allow a defendant to voluntarily report to prison. This option is usually reserved for defendants with short sentences or the lowest likelihood of fleeing.

In the case of the Binance Founder, he received the second judgment type because he wasn’t sentenced to a multi-year prison sentence. He, therefore, awaits notice by the Probation or Pretrial Services Office.

Due Process Must be Followed

The Bureau of Prisons is required by law to contemplate provisions such as the offender’s history, the resources of the facility, amongst other things before designating a criminal to prison. If these provisions are not considered, a criminal’s lawyers can file an appeal for a reduced sentence on due process grounds.

Simply put, the main reason CZ isn’t yet in prison is that due process must be followed according to the US Constitution. The Fifth Amendment provides this protection to all persons within the US, including non-citizen occupants. 

Meaning, CZ teased the next phase in his ambition prior to the sentencing. He introduced Giggle Academy, a non-profit educational outfit to give back to the community.

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