Binance founder Changpeng Zhao faces sentencing; US seeks 3
Time:2024-05-21 12:16:19 Source:entertainmentViews(143)
SEATTLE (AP) — Changpeng Zhao, the founder of Binance, the world’s largest cryptocurrency exchange, faces sentencing Tuesday in a Seattle courtroom, where U.S. prosecutors are asking a judge to give him a three-year prison term for allowing rampant money laundering on the platform.
Zhao pleaded guilty and stepped down as Binance CEO in November as the company agreed to pay $4.3 billion to settle related allegations. U.S. officials said Zhao deliberately looked the other way as illicit actors conducted transactions that supported child sex abuse, the illegal drug trade and terrorism.
“He made a business decision that violating U.S. law was the best way to attract users, build his company, and line his pockets,” the Justice Department wrote in a sentencing memorandum filed last week.
Zhao’s attorneys, insist he should receive no prison term at all, citing his willingness to come from the United Arab Emirates, where he and his family live, to the U.S. to plead guilty, despite the UAE’s lack of an extradition treaty with the U.S. No one has ever been sentenced to prison time for similar violations of the Bank Secrecy Act, they said.
Previous:Why US Catholics are planning pilgrimages in communities across the nation
Next:Why US Catholics are planning pilgrimages in communities across the nation
You may also like
- Yu Darvish extends scoreless innings streak to 25 in Padres' 9
- Will Prince Harry get to see his busy father, King Charles, when he visits the UK?
- Why Zendaya's steamy tennis love triangle triumph Challengers is THE movie of the year
- Southern California women sweep UCLA 3
- Shohei Ohtani's first walk
- 'Violent' leader of Columbia University's anti
- Champions League: Bayern and Dortmund could stop Mbappe's showdown with Real Madrid
- Oneil Cruz hits 2
- Baby Reindeer's real