Binance founder Changpeng Zhao is too rich to leave the U.S. before criminal sentencing, judge says
Publishing timestamp: 2023-12-08 12:24:59
Summary
Binance founder Changpeng Zhao, also known as CZ, has been barred from leaving the United States ahead of his criminal sentencing due to his "enormous wealth" and lack of ties to the country. A federal judge reversed a previous decision that allowed Zhao to travel to his home in the United Arab Emirates. The judge cited Zhao's wealth, property abroad, and favored status in the UAE as reasons for the ruling. Zhao pleaded guilty to violating federal money laundering rules, and Binance also pleaded guilty to related charges. Prosecutors argued that there was no guarantee Zhao would return to the US if allowed to travel.
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Keywords: securities fraud, united arab emirates, breaking news: politics, politics, donald trump, united states, binance/usd coin metrics, elections, crime, business news,
Source: https://www.cnbc.com/2023/12/08/binance-founder-cz-too-rich-to-leave-us-before-sentencing-judge.html