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A judge has ruled that former Binance chief executive Changpeng Zhao is a flight risk and has banned him from leaving the US until he\u2019s sentenced in February.<\/p>\n
In a new court filing<\/a>, Magistrate Judge Brian Tsuchida made a ruling in favor of the prosecution, who claimed Zhao\u2019s wealth and citizenship with other nations that don\u2019t have extradition laws with the US such as the United Arab Emirates (UAE) made him a risk to flee the nation.<\/p>\n In his ruling, Tsuchida notes that Zhao may not return to the UAE, but the other conditions of this bail shall remain intact. Furthermore,<\/p>\n \u201cAs relief, the government requests that Mr. Zhao be required to remain in the continental United States in the period between his plea and sentencing. After reviewing the parties\u2019 briefs, the relevant case law, and the record, the Court finds that oral argument is unnecessary.\u201d<\/em><\/p>\n However, Judge Tsuchida notes that Zhao was not barred from leaving the country based on his citizenship alone.<\/p>\n \u201cTo be clear, the Court is not making this determination upon the defendant\u2019s alienage or citizenship. The Court recognizes that although a defendant may be from a different country that alone does not point conclusively to a determination that a defendant poses a serious risk of flight. It is the combined facts of the defendant\u2019s circumstances that pose the risk of nonappearance.\u201d <\/em><\/p>\n In November, Zhao argued<\/a> that he should be able to return to the UAE as he\u2019s already pleaded guilty, has no prior criminal record, has not committed a violent crime, and has already posted bail. At first, Zhao was able to sway the judge to his side.<\/p>\n Zhao pleaded<\/a> guilty to failing to maintain adequate anti-money laundering protocols last month and stepped down from his role as chief executive of Binance. The crypto exchange agreed to pay a massive $4.3 billion fine to the Department of Justice (DOJ).<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>
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