| CZ of
Binance Could
Skip Bail and
Sentencing in
UAE DOJ Argues
in Appealing
His Bond
by
Matthew Russell Lee, Patreon Book
Substack
FEDERAL COURT,
Nov 22 – After Changpeng Zhao
or CZ of Binance pled guilty
to money laundering and
sanctions violations, a
Federal Magistrate ruled that
he could travel back to the
United Arab Emirates until his
sentencing in February
2024.
The US Attorney's
Office said it would appeal to
the assigned District Judge,
and on November 22 it did. It
notes that
"the United
States has no extradition
treaty with the UAE. If Zhao
decided he would not return
for his sentencing, the
government would not be able
to secure his return..
Zhao is a multi-billionaire.
The government believes that
the vast majority of that
wealth is held overseas and
Zhao is believed to have
hundreds of millions of
dollars in accessible
cryptocurrency. Zhao could
live on that wealth in the UAE
indefinitely." Full memo on
Patreon
here.
Two people,
undisclosed for now, have
agreed to forfeit property if
CZ were to not return. We'll
have more on this.
***
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