Crypto ExchangesGlobal NewsGovernmentPolicies & Regulations

CZ Contests Travel Restriction Amidst Sentencing Proceedings

The Former CEO of Binance, Changpeng “CZ” Zhao, has contested the attempts by the U.S. government to prevent his return to the United Arab Emirates (UAE) during the period leading up to his sentencing after admitting guilt.

The U.S. prosecutors, argued in a filing on November 22 that Zhao should not be allowed to leave the United States due to concerns about potential flight risks.

In a court filing on November 23, CZ’s lawyers urged a U.S. district judge to dismiss the proposed changes to his bail conditions, which aimed to prevent his return to the UAE where his family resides while awaiting sentencing after his guilty plea.

The lawyers emphasized CZ willingness to return for sentencing and pressed for permission to reside with his family in the UAE until the sentencing in February 2024, asserting his lack of intent to evade a potential 18-month prison term.

They cited Judge Tsuchida’s assessment that Zhao poses no flight risk and stressed his compliance by traveling from the UAE to the United States to address the charges. “Based on all the relevant facts, including Mr. Zhao’s voluntary self-surrender, his intent to resolve this case, and the sizable bail package he proposed, Judge Tsuchida found that Mr. Zhao presents no risk of flight, even while residing in the UAE,” the filing said.

News Desk

Unlock News Desk, is a group of Blockchain and Crypto enthusiastic young people, working to keep Unlock readers up to date with the industry news. Connect with the team via email: info(@)unlock-bc.com

Related Articles

Back to top button