<p style="text-align: justify">A committee affiliated with the Brazilian Congress has released a 500-page report accusing <a href="https://en.coin-turk.com/binance-ceo-predicts-bitcoin-bull-run-in-2025-amid-market-instability/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Binance</a> CEO Changpeng Zhao and three local executives of fraud. The committee has requested the drafting of an indictment against Changpeng Zhao and the three local executives. The report includes numerous allegations against Changpeng Zhao, including engaging in illegal securities sales.</p>
<h2 style="text-align: justify" id="fraud-charges-against-binance-ceo">Fraud Charges against Binance CEO</h2>
<p style="text-align: justify">With the lawsuit filed by the U.S. Securities and Exchange Commission (<a href="https://en.coin-turk.com/macro-developments-casting-significant-impact-on-cryptocurrency-market/" data-wpel-link="internal" rel="noopener noreferrer nofollow">SEC</a>) in June, Binance has come under the radar of regulatory authorities in many countries. Binance’s license applications in several European countries have also been rejected recently.</p>
<p style="text-align: justify"><img decoding="async" class="wp-image-264946 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/10/Binance-Altcoin-Likidite.jpeg" alt="" width="1280" height="720"></p>
<p style="text-align: justify">As a result of these investigations, Binance, the largest cryptocurrency exchange globally in terms of trading volume, has experienced significant declines in its market share. Additionally, many high-level executives at Binance have resigned in recent months.</p>
<p style="text-align: justify">Another blow has come to Binance from Brazil, which is currently facing a series of investigations. One committee affiliated with the Brazilian Congress has released a comprehensive report accusing Binance CEO and three local executives of fraud.</p>
<h2 style="text-align: justify" id="500-page-report-from-the-committee">500-Page Report from the Committee</h2>
<p style="text-align: justify">A committee affiliated with the Brazilian Congress has released a 500-page report accusing Binance CEO Changpeng Zhao and Binance Brazil’s local executives Daniel Mangabeira, Guilherme Haddad Nazar, and Thiago Carvalho of fraud. The committee has called for an indictment against Changpeng Zhao and the three local executives.</p>
<p style="text-align: justify">The committee has accused Changpeng Zhao and the three local executives of fraudulent management practices, operating without sufficient authority, and conducting securities sales without approval. The committee has recommended an investigation into all operations of Binance’s Brazil-based operations, stating that the activities of the cryptocurrency exchange are “surrounded by suspicion.”</p>
<p style="text-align: justify">The report highlights a network of operations controlled by Binance CEO Changpeng Zhao that has avoided complying with legal regulations. The report also makes various allegations against other cryptocurrency companies allegedly connected to Binance in relation to Changpeng Zhao and the three local executives.</p> Continue Reading: <a href="https://en.coin-turk.com/binance-ceo-and-local-executives-face-fraud-charges-in-brazil/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/binance-ceo-and-local-executives-face-fraud-charges-in-brazil/</a>

Binance CEO and Local Executives Face Fraud Charges in Brazil

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