Binance Founder CZ Zhao Ordered to Stay in U.S Until 2024 Sentencing
Summary:
Changpeng "CZ" Zhao, founder of Binance, has been ordered by a federal judge to stay in the U.S. until his February 2024 sentencing due to potential flight risk. His family lives in the UAE, and Zhao has significant assets overseas. Further updates will follow as the case progresses.
A federal judge has ruled that Changpeng "CZ" Zhao, founder of Binance, must remain in the United States until his sentencing in February. On December 7, Judge Richard Jones of Seattle District Court concurred with federal prosecutors' recommendation that Zhao should not leave the U.S. until his sentencing date of February 23, 2024, due to a potential flight risk. Jones observed in his ruling that "the defendant possesses significant wealth and assets overseas and lacks established connections with the U.S." He also noted that Zhao's family lives in the UAE, where he appears to enjoy preferential treatment. Given these conditions, Jones asserted that Zhao hasn't provided sufficient proof to dispel concerns that he might abscond if allowed to return to the UAE. Updates on this ongoing case will be provided as more details emerge.
Published At
12/8/2023 2:55:26 AM
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