Binance founder CZ must stay in US until February sentencing, judge orders

Binance founder Changpeng “CZ” Zhao should keep in america till his February sentencing as he’s unlikely to return to the nation if allowed to journey to the United Arab Emirates, a federal choose has dominated.

On Dec. 7, Seattle District Court docket Decide Richard Jones ordered Zhao to remain within the U.S. till his Feb. 23, 2024 sentencing date. He faces up to 18 months in prison after pleading responsible to cash laundering on Nov. 21.

“The defendant has monumental wealth and property overseas, and no ties to america,” Decide Jones wrote, and agreed with earlier arguments from federal prosecutors who mentioned they “wouldn’t be capable of safe his return” if Zhao determined to not come again to the U.S.

“His household resides within the UAE and it seems that he has favored standing within the UAE. Beneath these circumstances the Court docket finds that the defendant has not established by clear and convincing proof that he’s not prone to flee if he returns to the UAE,” he added.

“Primarily based on the foregoing cause, the Court docket GRANTS the federal government’s movement, and the defendant shall stay within the continental United States in the course of the interval between his plea and sentencing.”

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