US 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.

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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.

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