In the course of a long legal battle in the United States, Changfeng said,Czech Republic” Zhao, who previously served as CEO of Binance, faced a serious setback. In response to Zhao’s second request to leave the country, a federal judge named Richard Jones of the U.S. District Court for the Western District of Washington, Seattle, refused to grant his request. This decision It came as part of proceedings preceding Zhao’s sentencing hearing.
Judge Jones ordered Zhao to remain in the United States when he issued the transfer order on December 7. The ruling handed down on December 29 followed that order. The restrictions are based on concerns that Zhao, who pleaded guilty to one count of felonies in a $4.3 billion deal between himself, Binance, and U.S. authorities, may be a flight risk. Zhao personally signed the agreement. His sentencing is scheduled for February, and he could face up to 18 months in prison.
The court sealed the grounds for Mr. Zhao’s second travel request, so it remains confidential and has not been made public. Meanwhile, it is reported that this motion concerns medical information about Mr. Zhao’s children. It was claimed that Zhao is the father of three children with former talk show host and Binance co-founder Yi He. These children currently live in Dubai, where Mr. Zhao also resides. Because the ruling is confidential, it is impossible for the general public to obtain information about the specific claims and details of Zhao’s case.
Despite his guilty plea, Zhao remains free on $175 million bail. Nonetheless, he has been banned from traveling outside the United States since his conviction. This situation is somewhat similar to the problem faced by former Celsius CEO Alex Mashinsky. Mashinsky was arrested on charges of defrauding and defrauding people, but is now free on $40 million bail.
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