The US court changes CZ’s bail conditions! Asking Zhao Changpeng to hand over his Canadian passport

This site (120btC.coM): The bail conditions of Changpeng Zhao (CZ), the founder and former CEO of cryptocurrency exchange Binance (Binane), have been confirmed by the court. .

According to court documents disclosed on the 12th, Judge Richard A. Jones of the U.S. Federal District Court signed an order to modify Zhao Changpeng’s bail conditions. According to the modification order, CZ is required to surrender all valid and expired passports and other travel documents and ensure that he can only remain in the United States until his sentencing hearing in April.

Prosecutors from the U.S. Department of Justice submitted a motion to the court in early March requesting to modify CZ’s bail conditions. Under the proposed changes, CZ would have to place his passport in escrow, notify the Court of Pretrial Administration in advance when he plans to travel within the United States, and wait for approval before traveling.

The U.S. judge ordered CZ to surrender his passport and can only stay in the United States before sentencing.

The judge’s recently issued revised ruling complies with the U.S. government’s request. The ruling stipulates that CZ must remain in the United States until he is sentenced and must place his current Canadian passport in the custody of a third-party custodian overseen by a lawyer hired by him. In addition, CZ must notify the Pretrial Administration in advance before traveling to the continental United States.

The judge also noted that the third-party custodian must have control of the defendant’s Canadian passport at all times and required that the third-party custodian accompany the defendant on any travel that requires identification documents.

In addition, CZ is also required to surrender all valid and expired passports and travel documents to the lawyer of record. The lawyer has the right to return these documents to the defendant only with the authorization of the pretrial administration or the court. CZ may not apply for or obtain new passports and travel documents in any country without court permission.

CZ’s dream of returning home to the UAE before being sentenced

In November last year, Binance reached a historic settlement agreement with the U.S. Department of Justice, the Commodity Futures Trading Commission (CFTC) and other agencies, pleading guilty and agreeing to pay With a fine of US$4.3 billion, Changpeng Zhao also admitted to violating US anti-money laundering laws and other charges, resigned as CEO of Binance, and paid US$175 million to successfully obtain bail. However, his multiple requests to return to his home in the United Arab Emirates before sentencing were rejected. rejected by the court.

Including in January this year, CZ requested to return to Abu Dhabi for surgery, and even used all his equity in Binance US worth up to 4.5 billion US dollars as a return guarantee, but he could not get the judge's approval.

The latest modification order means that CZ’s plan to return to his home in the United Arab Emirates before sentencing has failed. Currently, CZ’s sentencing has been postponed to April 30. The former CEO of Binance may face up to 18 months in prison.

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