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Binance’s Changpeng Zhao Seeks to Return Home Before Sentencing

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Former Binance CEO Changpeng Zhao is embroiled in legal proceedings for violating anti-money laundering regulations in the United States. He has pleaded with his legal team to return to his home in the United Arab Emirates before his sentencing.

Zhao, who relinquished his CEO position after pleading guilty, faces potential prison time and significant financial penalties.

Binance’s Changpeng Zhao Wants to Go Home

Changpeng Zhao’s counsel has requested US District Judge Richard Jones to uphold the bail conditions authorized by US Magistrate Judge Brian Tsuchida. These conditions would allow Zhao, a UAE and Canadian citizen, to leave the US while he awaits his February 23, 2024, sentencing.

Zhao has complied with a considerable $175 million bail bond as part of his commitment to face the charges.

The Justice Department, however, expressed concerns about Zhao’s potential flight risk. The federal agency emphasized the lack of an extradition treaty between the US and the UAE.

Indeed, prosecutors are pressing to reverse the decision to let Zhao travel abroad. Given his extensive financial resources, they argue that ensuring Zhao’s return for the sentencing might be challenging.

“In the vast majority of cases, a multi-billionaire defendant who has pleaded guilty, faces possible prison time, and lives in a country that does not extradite its citizens to the United States would be detained,” lawyers said.

Still, Zhao’s legal representatives argue that he has demonstrated responsibility by voluntarily appearing in the US. They contend that his return to the UAE would enable him to prepare his family for the upcoming sentencing. Surprisingly, Judge Tsuchida seems to agree.

In a recent filing, Judge Tsuchida a

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Author: Bary Rahma

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