Binance's Changpeng 'CZ' Zhao is a Manageable Flight Risk: U.S. DOJ
Summary
Changpeng 'CZ' Zhao, former CEO of Binance, is considered a "flight risk that could be managed" by the US Department of Justice (DOJ). Although his legal team argued that he posed no flight risk due to voluntarily surrendering himself to the court, U.S. Prosecutors countered this by stating Zhao could potentially flee back to UAE, a country with no extradition treaty with the US, due to the severity of his possible sentence. He pled guilty to violating anti-money laundering laws in the US, leading to his resignation from Binance. The exchange also pled guilty to multiple criminal and civil charges, agreeing to pay $4.3 billion in penalties, one of the largest corporate fines in the DOJ's history.
