The former CEO of Binance, the world’s largest crypto exchange platform by volume, is challenging the US government’s proposal to overturn his bail conditions.
In a new lawsuit, Binance CEO Changpeng Zhao says he is not at risk of skipping court despite being a citizen of two other countries, including the United Arab Emirates (UAE).
Last week, prosecutors in the case alleged that Zhao – who pleaded guilty to charges of failing to maintain adequate anti-money laundering protocols for Binance – poses a substantial flight risk and should not be allowed to leave the US. Zhao was able to convince the judge otherwise.
But now the former Binance CEO is opposing the government’s decision to seek a review of his release order, arguing that he has already pleaded guilty to the charges and has no prior criminal record.
As stated in the most recent filing,
“Judge Tsuchida was right in his ruling [was] fully supported by the record. As previously argued, Mr. Zhao does not pose a flight risk:
(1) his actions reflect his intention to accept full responsibility for his conduct and to submit to the judgment of the Court; (2) he is a public figure, has no criminal record, and has pleaded guilty to a non-violent, non-fraudulent offense; (3) his citizenship in the UAE does not constitute a flight risk; and (4) the applicable guideline range does not encourage flights.
The careful and robust bail conditions imposed by Judge Tsuchida provide sufficient assurance that Mr. Zhao will return as required.”
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Featured image: Shutterstock/Jorm S
