Former Binance CEO Asks Court to Reject Prosecutors’ Motion to Keep Him in the US
The legal defense team of former Binance CEO Changpeng Zhao has requested the court to deny prosecutors’ recent motion to keep him in the US until his sentencing in February. Zhao recently pleaded guilty to violating the Bank Secrecy Act and agreed to pay a $50 million fine. The US Department of Justice also settled its criminal case with Binance, resulting in a $4.3 billion fine.
Defense Argues Against Prosecutors’ Motion
Zhao’s defense team argued against the motion, stating that he is not a flight risk or a danger to the community. They highlighted that Judge Brian Tsuchida previously found Zhao to be not a flight risk during his bail hearing and emphasized his lack of prior criminal history and willingness to plead guilty. The defense also mentioned that Zhao’s high-profile status makes it impossible for him to evade the US justice system.
No Incentive to Flee
The defense further argued that since Zhao could potentially serve half of any term of imprisonment in a non-jail setting, such as home detention or community confinement, there is no incentive for him to flee and risk additional charges. They also stated that preventing Zhao from returning to his family in the UAE would be punitive.
Lack of Substantial Evidence
The defense contended that the prosecutors provided no substantial evidence to challenge Judge Tsuchida’s decision to allow Zhao to reside in the UAE pending sentencing. They addressed concerns about extradition by noting that Zhao voluntarily returned to the US to plead guilty.
CZ’s Bail Conditions
Zhao’s bail conditions include a $175 million personal recognizance bond and multiple guarantors pledging cash amounts and real property valued at over $5 million. The defense emphasized these substantial conditions as evidence of Zhao’s commitment to return to the US before his sentencing.
US or UAE for CZ?
Prosecutors argued that Zhao should not be allowed to return to the UAE before his sentencing due to the risk of flight posed by his significant assets and strong ties to the country. However, Judge Tsuchida had previously ruled that Zhao could return to the UAE on an appearance bond, with a requirement to return to the US by February 9, 2024.
Hot Take: Defense Fights Against Prosecutors’ Attempt to Keep Zhao in the US
The legal defense team for former Binance CEO Changpeng Zhao is strongly opposing prosecutors’ motion to keep him in the US until his sentencing. They argue that Zhao is not a flight risk and point out Judge Tsuchida’s previous ruling in favor of allowing him to reside in the UAE. The defense also highlights that Zhao’s willingness to plead guilty, lack of prior criminal history, and high-profile status make it impossible for him to evade the US justice system. With substantial bail conditions and no incentive to flee, they assert that Zhao should be permitted to return home pending sentencing.
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