US Prosecutor Seeks Three-Year Imprisonment for Zhao Changpeng, Doubling the Maximum Limit in Federal Sentencing Guidelines

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US Prosecutor Seeks Three-Year Prison Sentence for CZ
CZ Has Not Commented
Prison Sentence
Binance founder Changpeng Zhao (CZ) previously pleaded guilty to charges of money laundering and is expected to receive a US judgment on April 30th. Despite having a week left, US prosecutors have argued in the Western District Court of Washington State that CZ should be sentenced to 36 months in prison.
According to Reuters, US prosecutors stated that considering Zhao’s intentional violation of US laws and the serious consequences caused, it is necessary to impose a 36-month prison sentence, which exceeds the maximum limit specified by federal sentencing guidelines.
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Based on the charges Zhao committed, federal sentencing guidelines specify a maximum sentence of 18 months. CZ’s lawyers have previously appealed against this term.
(Binance $4.3 billion fine finalized, Zhao Changpeng still unable to leave until the end of April)
CZ Has Not Commented
According to previous reports, US authorities accused Binance in late November last year of failing to report over 100,000 suspicious transactions involving designated terrorist organizations such as Hamas, Iraq, and ISIS.
Prosecutors also pointed out that Binance indirectly supported money laundering services for child pornography and received a significant amount of ransom related to ransomware.
(The Biggest Financial Sanction! The US Takes Aim at Binance and the Cryptocurrency Industry: Non-compliance Comes at a Cost, This Is America’s Warning!)
CZ has not commented on this matter and only mentioned that the logo design for the education academy he founded, Giggle Academy, has been completed.
CZ
Binance
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Further Reading
Binance to Launch Spot Copy Trading in May, Recruiting Copy Traders
Binance Launchpool Lists Renzo, Staking for REZ Opens on April 24th