The verdict in the criminal case against the founder of the Binance crypto exchange, Changpeng Zhao, who is accused of money laundering, was postponed until April 30, CNBC reports, citing information from a federal court in Seattle.
Currently, Canadian citizen Changpeng Zhao is released on bail in the amount of $175 million in the United States – the court did not say how the two-month delay would affect his status. The businessman faces up to 18 months in prison under federal sentencing guidelines, but prosecutors were reportedly considering asking for a harsher sentence.
On November 21, Changpeng Zhao pleaded guilty to failing to provide sufficiently effective anti-money laundering measures on the world’s largest cryptocurrency exchange Binance – he agreed to resign as CEO of the site and pay a fine of $50 million. The cryptocurrency exchange itself agreed to pay $4.3 as part of the agreement billion, including fines and damages, and pleaded guilty to conspiracy to operate an unlicensed money transmitting business, conducting such a business and violating the International Emergency Economic Powers Act. Zhao was originally scheduled to be sentenced on February 23.
US District Judge Richard Jones noted that Zhao “huge fortune” and there are no connections with the United States, which means the businessman can escape. At the end of December, he rejected Zhao’s request to travel to the UAE in connection with the hospitalization and operation of a loved one – the businessman offered his Binance shares as collateral.