Current location:business >>
Binance founder Changpeng Zhao faces sentencing; US seeks 3
business71People have gathered around
IntroductionSEATTLE (AP) — Changpeng Zhao, the founder of Binance, the world’s largest cryptocurrency exchange, ...
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.
Tags:
Reprint:Friends are welcome to share on the Internet, but please indicate the source of the article when reprinting it.“Earthly Encounters news portal”。http://angola.edtechdidi.com/news-89d499458.html
Related articles
Oracle bone script art exhibition unveiled in South Africa
businessTo celebrate the 2024 UN Chinese Language Day, the opening ceremony of "The Spirits on Turtle S ...
【business】
Read moreWorld Insights: Xi's Russia Visit Deepens Bilateral Cooperation, Contributes to Human Progress
businessContact Us HomeNewsHighlightACWF NewsSocietyWom ...
【business】
Read moreIn pics: flamingoes at Lake Mogan in Ankara, Turkey
businessPhoto taken on July 9, 2020 shows flamingoes at Lake Mogan in Ankara, Turkey. (Photo by Mustafa Kaya ...
【business】
Read more
Popular articles
- Chinese scientists use machine learning for precise Antarctic sea ice prediction
- Xi Stresses Solid Efforts to Write a New Chapter in Reform and Opening Up
- Village benefits from ecological improvement of Erhai Lake in Yunnan
- Palace Museum raises the number of daily visitors to 12,000
- Royals C Salvador Perez scratched from game against Blue Jays because of tight back
- Taihang mountains attract visitors as leaves change colors
Latest articles
LINKS
- Full Text of Constitution of Communist Party of China
- Xi to Attend G20 Summit, APEC Economic Leaders' Meeting and Visit Thailand
- Xi Meets Pakistani PM
- Xi Sends Condolences to S. Korean President over Stampede in Seoul
- CCTF Awarded Exemplary Institution of the Year 2023
- Xi Congratulates International Bamboo and Rattan Organization on 25th Anniversary
- (CPC Congress) 20th CPC National Congress Concludes
- Full Text of the Report to the 20th National Congress of the Communist Party of China
- Xi Meets Argentine President Fernandez
- CWDF, Federation Hold Vegetable