A U.S. district court judge barred Ex-Binance CEO Changpeng Zhao from leaving the continental United States as he awaits sentencing after he pled guilty last month to violating the Bank Secrecy Act, among other crimes.
Zhao’s family ties to the United Arab Emirates and the vast wealth he enjoys within its borders—not to mention the lack of an extradition treaty with the U.S.—prompted United States District Judge Richard Jones to side with U.S. prosecutors asking that Zhao be disallowed from leaving the country.
“The absence of an extradition treaty, the defendant’s extraordinary financial capabilities, the unusual circumstance that the defendant appears to have favored citizen status by the fact the UAE granted him citizenship complicate the willingness of this Court to have complete confidence that he will return to the United States for sentencing,” Jones said in a Thursday ruling.
Zhao posted a $175 million bond last month and is set to be sentenced in February, the latest crypto kingpin to plead guilty to federal charges. The government may seek as high as an 18-month prison sentence, on top of the tens of millions Zhao agreed to pay in fees.
“The defendant is not facing an insignificant sentence,” Jones said. “While the bail package is substantial, if not unprecedented, it is a package that appears to be largely comprised of assets beyond the government’s reach.”
“The defendant has not established by clear and convincing evidence that he is not likely to flee if he returns to the UAE,” Jones continued.
His ruling leaves Zhao free to travel wherever he likes until his sentencing, so long as he remains in the continental U.S.
Source: The Daily Beast
Questions of Biden’s age among Dems, media, comedians keep piling up following Hur report
Alabama Supreme Court cites the Bible in ruling frozen embryos are ‘children’
MTA to roll out LED lights throughout subway system
Dubai: FedEx sets up Dh1.3 billion hub for Middle East, Indian Subcontinent, Africa
Police identify body of man found shot in woods in Southeast D.C.
Why Americans Suddenly Stopped Hanging Out
New Jersey residents stocking up for several inches of snow; Winter Storm Warnings for multiple counties
Tiger Woods signs apparel and footwear deal with TaylorMade following his split with Nike
Are Sprouted Potatoes Safe to Eat, or Are You Risking a Major Illness?
Does Working Out Really Make Botox Wear Off Faster?
The Beatles Were Shocked and Embarrassed by Don Rickles’ Jokes About Them
Signal Finally Rolls Out Usernames, So You Can Keep Your Phone Number Private
Meghan Markle and Prince Harry Are ‘All Grift, No Duty’ Says Reporter
‘Teen Mom’: Ashley Jones Will Now Be Back for Upcoming Season, Bar Smith Will Not
The Beatles Were Vicious to People They Disliked: ‘All the Fangs Were In You at Once’
News19 hours ago
Rays hold first official full-team workout as Wander Franco remains absent
News20 hours ago
Meghan Markle and Prince Harry Just Fired Back at Critics With 3 Words After Sussex Website Rebrand, Canada Trip
Lifestyle20 hours ago
Millie Bobby Brown Gets Sweet 20th Birthday Tribute From Jake Bongiovi
News24 hours ago
Campaign to recall D.C. Council member Charles Allen launches ground game
News17 hours ago
Missouri House votes to ban celebratory gunfire days after Chiefs’ parade shooting
News19 hours ago
Prince Harry Makes It Clear He’s Not Unleashing Any More Royal Secrets With Quick 6-Word Statement
News18 hours ago
Adele explains viral meme of her sitting courtside at NBA game
Lifestyle6 hours ago
Celebrate National Love Your Pet Day With These Paws-ome Gifts