Former Binance CEO Changpeng “CZ” Zhao has opposed the US government’s efforts to prevent him from returning to the United Arab Emirates (UAE) to reunite with his family while awaiting sentencing following a guilty plea.
Inside document Appearing in court on November 23, Zhao’s lawyers urged the US district judge to reject the US Department of Justice’s (DOJ) proposal to change bail conditions.
It was also reiterated that Zhao should be allowed to leave the US and return to the UAE until sentencing in February 2024.
Lawyers have firmly stated that despite a possible 18-month prison sentence, Zhao does not intend to stay in the UAE to avoid the sentencing date.
“As Judge Tsuchida found, all the facts and circumstances amply demonstrate that Mr. Zhao does not present any flight risk and should be allowed to reside with his family at his home in the United Arab Emirates until sentencing. The government should be overruled.”
Additionally, Zhao’s lawyers argued that he took responsibility for his actions by flying from the United Arab Emirates to the United States.
“His intention is to put an end to this case, and it would be pointless to take all these concrete measures without the intention of appearing in court for sentencing,” the document said.
On November 22, US prosecutors filed a brief with the court, arguing that Zhao should be barred from leaving the US due to his flight risk.
The Ministry of Justice argues that if Zhao decides not to return from the United Arab Emirates for sentencing, his return would pose a difficulty for the government.
However, the bail document filed with the court on November 21 shows that Zhao was given $175 million bail and agreed to return to the United States 14 days before his sentencing date on February 23, 2024.
This follows Zhao’s resignation as Binance CEO after pleading guilty to various charges brought by the Department of Justice.
The agreement allows him to maintain his rights majority share He will not be allowed to hold an executive position at Binance but at the crypto exchange.
Agreement does not affect the case This ongoing agreement between Binance and the US Securities and Exchange Commission resolves the company’s problems with the Commodity Futures Trading Commission.
Translation by Walter Rizzo