Claim $500US DOJ Tightens Grip on Binance Ex-CEO Changpeng “CZ” Zhao: Details
Highlights
- US attorneys propose new bond conditions consistent with Judge Jones decision that CZ must remain in the US
- Changpeng Zhao must surrender his current Canadian passport
- Changpeng "CZ" Zhao’s lawyers have objected to the proposed bond conditions
U.S. Department of Justice (DOJ) prosecutors request the court to tighten bond conditions of Changpeng “CZ” Zhao, former Binance CEO, ahead of criminal sentencing for violating anti-money laundering (AML) law.
DOJ Asks Court to Tighten Bail Conditions of Changpeng “CZ” Zhao
US attorneys propose new bond conditions consistent with the December order by Judge Richard Jones that Changpeng “CZ” Zhao must remain in the continental U.S. until sentencing, turning down CZ’s requests to travel to his family in the UAE.
Also, Judge Jones said CZ must remain in the U.S. and under Pretrial Services supervision through sentencing. Prosecutors claim the bond conditions should be revised to reflect those orders, tightening the grip on Binance’s former CEO CZ.
DOJ prosecutors urged the court to delete conditions listed under “Other Special Conditions”. The new special conditions are:
- CZ must remain in the continental U.S. until the imposition of sentence.
- He must notify Pretrial Services and the government of any travel within the continental United States at least three days before the travel.
- Changpeng Zhao must surrender his current Canadian passport to his counsel-supervised third party, surrendering all other current and expired passports and travel documents to his counsel.
- Defendant may not change his place of residence without prior approval from authorities.
Changpeng “CZ” Zhao’s lawyers have objected to the proposed bond conditions, according to the filing.
Also Read: Terra Classic Community Rejects Tax2Gas Proposal, But There’s A Catch
DOJ Seeking Long Criminal Sentence
In response to latest proceedings, including CZ’s criminal sentencing postponed to April end. CZ faces an 18-month prison term for violating anti-money laundering (AML) rules, but DOJ attorneys are looking for a long-term criminal sentence.
Moreover, prosecutors have received protective order from the court regarding the sensitive information in the lawsuit. This includes sensitive witness interviews, third-party financial records, and third-party internal business records.
Meanwhile, Judge Jones has also approved the $4.3 billion plea deal by Binance, which includes a $1.81 billion criminal fine and $2.51 billion of forfeiture.
Also Read: US Senator Cynthia Lummis Supports Bitcoin Miners In Rift With Energy Department
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Michael Saylor’s “Green Dots” Message Hints At Fresh Bitcoin Buying As BTC Faces $90K Wall
- Fed’s Hammack Signals No Rush to Cut Rates as January Hold Odds Near 80%
- XRP ETFs Reach $1.21B as Asset Managers See a ‘Third Path’ Beyond Bitcoin
- Nearly $50M in USDT Stolen After Address Poisoning Scam Targets Crypto Trader Wallet
- Breaking: Rep. Max Miller Unveils Crypto Tax Bill, Includes De Minimis Rules for Stablecoins
- Will Solana Price Hit $150 as Mangocueticals Partners With Cube Group on $100M SOL Treasury?
- SUI Price Forecast After Bitwise Filed for SUI ETF With U.S. SEC – Is $3 Next?
- Bitcoin Price Alarming Pattern Points to a Dip to $80k as $2.7b Options Expires Today
- Dogecoin Price Prediction Points to $0.20 Rebound as Coinbase Launches Regulated DOGE Futures
- Pi Coin Price Prediction as Expert Warns Bitcoin May Hit $70k After BoJ Rate Hike
- Cardano Price Outlook: Will the NIGHT Token Demand Surge Trigger a Rebound?
