binance founder cz seeks court order for travel permission amid legal battle
29 december 2023
- changpeng ‘cz’ zhao, founder of binance, has formally requested a federal court order related to travel permission, following a prior directive to remain in the u.s. until sentencing in february 2024.
- a motion to seal documents, including sensitive information about cz’s child’s health, filed late december 27, added another layer to the ongoing legal proceedings.
in the ongoing legal saga involving changpeng ‘cz’ zhao, founder of binance, cz has formally requested a federal court to issue an order pertaining to travel permission. this development follows a prior court directive instructing the former binance ceo to remain within the continental united states between his plea and the scheduled sentencing in february 2024.
the attorney submitted a motion representing changpeng zhao to seal an earlier motion associated with the request for travel permission. this request to seal documents was filed late on december 27, seeking to protect sensitive and private medical information concerning cz’s child.
the motion seeks the court’s approval to seal submissions related to both the permission to travel and the proposed order connected to the motion. according to cz, the information contained in these documents involves sensitive details about the health of his child.
in a previous development, judge richard jones had granted a motion by cz to seal documents in opposition to the government’s review of the magistrate judge’s decision regarding the defendant’s travel restrictions before sentencing.
the magistrate judge had previously allowed cz to travel to the united arab emirates (uae) to be with his family, with the condition of returning before the scheduled sentencing. however, the department of justice (doj) prosecutors expressed concerns about the potential flight risk, suggesting cz might flee to a country without an extradition treaty with the united states.
binance’s cz denied permission to travel by u.s. judge for the second time
zhao has requested permission to travel to the uae, where his three children reside.
dec 30, 2023 at 3:44 a.m.
a federal judge on friday again denied binance founder changpeng “cz” zhao’s request for permission to travel abroad as he awaits sentencing for criminal charges in the u.s.
the ruling by judge richard jones of the u.s. district court for the western district of washington marks the second time zhao has been forbidden from traveling abroad after prosecutors argued that the former binance executive was a flight risk.
the sealed ruling, filed on friday, did not disclose in detail zhao’s argument against the court’s repeated efforts to block his return to the uae, where his three children and their mother reside. the former binance ceo pleaded guilty to one charge of violating the bank secrecy act last month and was released on a $175 million personal recognizance bond, in addition to other financial conditions.
another bad news from the judge for former binance ceo cz, who is not allowed to leave the us
former binance ceo changpeng zhao has been denied permission to travel for the second time while he awaits sentencing in the us for violating banking laws.
zhao had appealed to u.s. district judge richard a. jones for permission to travel. but after a hearing in seattle on friday, jones rejected zhao’s application. the reasons for zhao’s proposed trip and the destination he plans to go remain secret, as they were filed under seal in court.
zhao faces a potential maximum sentence of 10 years in prison. however, under a plea deal, he is expected to receive no more than 18 months in prison, seemingly sparing him from the harsh sentences faced by other prominent figures in the cryptocurrency industry. the ministry of justice has not yet announced the duration of the sentence it will recommend.
in late november, a federal judge in seattle ruled that zhao would not be allowed to return to his home in the united arab emirates for now. zhao’s sentence is scheduled to be announced on february 23.
in accordance with the agreement it made with us authorities, binance agreed to resign zhao as ceo and pay a penalty of $ 4.3 billion. however, many experts think that this is a good deal for the company and that they have now eliminated the threat of regulation quite cheaply.
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