Richard

Bank AI

Million

<a href="https://bitcoinworld.co.in/binance-ex-ceo-cz-released-on-175-million-bond-after-facing-us-criminal-charges/" title="Binance Ex-CEO CZ Released On $175 Million Bond After Facing US Criminal Charges" rel="nofollow"></a>
Changpeng Zhao, who <a href="https://bitcoinworld.co.in/breaking-news-binance-ceo-cz-steps-down-following-us-investigations/">stepped</a> down as CEO of Binance yesterday, will pay a $175 million personal recognizance bond after pleading guilty to criminal charges in the US. 
A court filing showed that Zhao must put in $175 million for <a href="https://www.theblock.co/post/264191/binance-ex-ceo-cz-released-on-175-million-bond-after-u-s-criminal-charges?utm_source=cryptopanic&amp;utm_medium=rss">the</a> bail and must agree to appear in court in Seattle on February 23 next year for sentence hearings.&nbsp; 
Zhao is also placing $15 million held in a Davis Wright Tremaine trust account. The bond requires two guarantors, who must pledge $250,000 and $100,000, respectively. 
Earlier today, Zhao pleaded guilty to violating the Bank Secrecy Act and stepped down as the CEO of the world’s largest crypto exchange. As part of the plea deal, Zhao agreed to pay a $50 million fine, and Binance will pay a $4.3 billion fine for violating money transmission laws and U.S. sanctions. 
See Also: <a class="row-title" href="https://bitcoinworld.co.in/richard-teng-likely-to-take-over-from-cz-as-binance-ceo/" aria-label="“Richard Teng Likely To Take Over From CZ As Binance CEO” (Edit)">Richard Teng Likely To Take Over From CZ As Binance CEO</a> 
<h3 id="span-style-font-weight-400-bond-conditions-span">Bond Conditions</h3> 
If Zhao fails to show up at the court in February 2024 as outlined in the appearance bond document, he will face up to 10 years’ imprisonment and a fine of $250,000. He’s required to return to the U.S. 14 days before the scheduled sentencing date. 
The document states that the U.S. will seek a review of the bail order, and if a district judge denies the review, the order will become effective on November 27. If the judge grants the review by November 27, Zhao should stay in the U.S. pending the judge’s decision. 
The post <a href="https://bitcoinworld.co.in/binance-ex-ceo-cz-released-on-175-million-bond-after-facing-us-criminal-charges/">Binance Ex-CEO CZ Released On $175 Million Bond After Facing US Criminal Charges</a> appeared first on <a href="https://bitcoinworld.co.in">BitcoinWorld</a>.

Binance Ex-CEO CZ Released On $175 Million Bond After Facing US Criminal Charges

Spis treści

ItsBitcoinWorld

Inne artykuły opublikowane 22 lis 2023

Crypto: Apple at the Heart of a Major Legal Battle

Elon Musk Ignites OpenAI Turmoil with Anonymous Accusations

JPMorgan Lauds Binance Settlement, Eyes Reduced Systemic Risk

Zhao’s resignation and guilty plea: a new era for Binance and crypto?

Bitcoin Mining Woes in the Nordics: Power Price Surge Dents Profitability

Mt. Gox to distribute $5.67 billion to rehabilitation creditors ‘shortly’

Zapisz się na bezpłatny newsletter i otrzymuj codzień aktualności ze świata kryptowalut!