{"id":26235,"date":"2023-12-06T23:21:57","date_gmt":"2023-12-06T23:21:57","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/judge-accepts-binance-ceo-czs-guilty-plea-with-sentencing-in-feb\/"},"modified":"2023-12-06T23:21:59","modified_gmt":"2023-12-06T23:21:59","slug":"judge-accepts-binance-ceo-czs-guilty-plea-with-sentencing-in-feb","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/judge-accepts-binance-ceo-czs-guilty-plea-with-sentencing-in-feb\/","title":{"rendered":"Judge accepts Binance CEO CZ\u2019s guilty plea, with sentencing in Feb"},"content":{"rendered":"<div data-v-8081b7b6=\"\">\n<p>A federal judge has accepted Binance founder Changpeng &#8220;CZ&#8221; Zhao&#8217;s guilty plea to money laundering but hasn&#8217;t decided if he can leave the United States before his February sentencing date.<\/p>\n<p>In a Dec. 6 filing to a Seattle District Court, Judge Richard Jones said he accepted Zhao\u2019s guilty plea to one count of Bank Secrecy Act violations, which the Binance founder submitted over two weeks ago on Nov. 21 alongside his exchange\u2019s $4.3 billion settlement with the U.S.<\/p>\n<p>Part of the settlement deal saw Zhao step down as CEO of Binance and pay $150 million to regulators.<\/p>\n<p>&#8220;This Court, having considered the Report and Recommendation of the United States Magistrate Judge, to which there has no timely objection [&#8230;] accepts the plea of guilty,&#8221; Judge Jones wrote. &#8220;The defendant is adjudged guilty of such offense. <\/p>\n<figure><figcaption style=\"text-align: center;\"><em>Judge Jones&#8217; one-page plea acceptance ends by ordering Zhao to appear for sentencing in February. Source: PACER<\/em><\/figcaption><\/figure>\n<p>Zhao is set to be sentenced on Feb. 23 next year and\u00a0faces up to 18 months in prison. He\u2019s currently released on a $175 million bond, which would have allowed him to return to the United Arab Emirates where he resides.<\/p>\n<p>Judge Jones ordered on Nov. 27 that Zhao not be permitted to travel to the UAE until a court ruled on a motion for review from the U.S. government.<\/p>\n<p>Federal prosecutors have objected to allowing Zhao to leave the U.S. saying they \u201cwould not be able to secure his return\u201d if he decided not to come back, as the UAE has no extradition treaty and Zhao could live there indefinitely on his wealth.<\/p>\n<p><strong><em>Related: Binance is now \u2018totally different\u2019: Interview with CEO Richard Teng<\/em><\/strong><\/p>\n<p>\u201cHe has three young children and a partner in the UAE; once in the UAE and faced with the prospect of traveling back to the United States to face up to 18 months in prison, he may elect to instead simply stay in the UAE with his family,\u201d prosecutors said.<\/p>\n<p>Zhao has opposed the travel block, saying he &#8220;poses no risk of flight,&#8221; argue he took responsibility for his actions by flying from the UAE to the U.S. <\/p>\n<p><strong><em>Magazine: Slumdog billionaire 2 \u2014 \u2018Top 10\u2026 brings no satisfaction\u2019 says Polygon\u2019s Sandeep Nailwal<\/em><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>A federal judge has accepted Binance founder Changpeng &#8220;CZ&#8221; Zhao&#8217;s guilty plea to money laundering but hasn&#8217;t decided if he can leave the United States before his February sentencing date. In a Dec. 6 filing to a Seattle District Court, Judge Richard Jones said he accepted Zhao\u2019s guilty plea to one count of Bank Secrecy [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":26236,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"footnotes":""},"categories":[42],"tags":[],"class_list":["post-26235","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Judge accepts Binance CEO CZ\u2019s guilty plea, with sentencing in Feb | NFT &amp; Crypto News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nftandcrypto-news.com\/crypto\/judge-accepts-binance-ceo-czs-guilty-plea-with-sentencing-in-feb\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Judge accepts Binance CEO CZ\u2019s guilty plea, with sentencing in Feb | NFT &amp; Crypto News\" \/>\n<meta property=\"og:description\" content=\"A federal judge has accepted Binance founder Changpeng &#8220;CZ&#8221; Zhao&#8217;s guilty plea to money laundering but hasn&#8217;t decided if he can leave the United States before his February sentencing date. 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