- Prosecutors might argue that Changpeng Zhao faces up to 10 years in prison.
- Despite Zhao’s voluntary appearance in the U.S., the court deems him a manageable flight risk.
- The former chief of the SEC Office of Internet Enforcement stated that Zhao enabled a range of illicit actors to use Binance freely.
A recent filing in the legal case against the former CEO of Binance, Changpeng Zhao, revealed that Zhao could face a substantial prison sentence of up to 10 years.
On November 24, the prosecutors claimed that Zhao voluntarily appeared in the U.S. to face justice. The court stated that Zhao was allowed to remain free until his sentencing. The decision failed because the court “believed Mr. Zhao presented no flight risk.”
Contrary to the perception that the court had no concerns about Zhao being a flight risk, the filing clarified that “Zhao presented a flight risk that could be managed.” According to the filing, requiring Zhao to remain in the U.S. and preventing him from returning to the “safe haven of the UAE” until sentencing is a reasonable restriction.
Despite the defense’s assertion that Zhao lacks the motivation to flee given the prospe…
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