A judge this Monday banned the founder of Binance, Changpeng Zhaotemporarily leave the United States and travel to his home in the United Arab Emirates, after he pleaded guilty to the crime of money laundering last week and resigned from his position in the company.
The guilty plea came last Tuesday as a result of a deal between zhao and the Justice Departmentand at first a judge allowed him to return to his home in the Emirates while the sentence was pronounced next February.
However, the Prosecutor’s Office opposed that trip for fear that he would not return for the trial, and due to the fact that there is no extradition treaty in force between the United States and the Emirates.
For this reason, in his ruling this Monday, District Judge Richard A. Jones of Seattle considers that this permission granted to Zhao is suspended “until the court resolves the government’s request (prosecutor’s office)”.
Binance, the largest cryptocurrency platform in the world, agreed last week with the United States Department of Justice to pay a fine of US$4.3 billion and the resignation of its CEO, Changpeng Zhao, in exchange for being able to continue operating in the country.
zhao He is provisionally released in exchange for a bail of US$ 175 million.
Source: Gestion
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