U.S. prosecutors have told the judge they want Zhao to serve twice the maximum 18 months recommended under federal guidelines
The former chief executive of Binance, the world’s largest cryptocurrency exchange, could face years in prison when he is sentenced on Tuesday after his guilty plea to violating U.S. money-laundering laws.
“It’s unusual to ask for this much time above sentencing guidelines,” he said. “They want this to serve as a deterrent.” “It’s always the case the government asks for more than they think they’ll get...but going that much above guidelines for a pleader is unusually aggressive,” said Robert Frenchman, an attorney who focuses on white-collar crime and has defended clients against government prosecutions.
Several other crypto moguls are also in U.S. authorities’ crosshairs, after the collapse of crypto prices in 2022 exposed fraud and misconduct across the industry.
Canada News Breaking News Video Canadian Breaking News Breaking News Globe And Mail Breaking News Globe And Mail Canada News Photos World News Local News National News Us News Foreign News Sports News Arts News Life News Lifestyle Canada Traffic Canada Weather Trudeau Government Federal Government Canada Sports Canada Sports News Politics Politics News Political News Political Opinion Environment Economy Technology Education Travel Canada Alberta Bc British Columbia Manitoba Ontario Quebec Nova Scotia Pei New Brunswick Newfoundland And Labrador Nunavut Northwest Territories Yukon Globe And Mail
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Prosecutors recommend a 36-month prison sentence for former Binance CEO Changpeng ZhaoThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »
US DOJ Seeks Three-Year Jail Term for Former Binance CEO ZhaoThe US Department of Justice recommended a 36-month prison sentence for Changpeng Zhao, the former chief executive officer of Binance, the world’s largest crypto exchange.
Read more »
Binance's CEO Zhao faces sentencing over money laundering violationsThe former chief executive of Binance, the world's largest cryptocurrency exchange, could face years in prison when he is sentenced on Tuesday after his...
Read more »
Binance founder Changpeng Zhao faces sentencing; US seeks 3-year term for allowing money launderingSEATTLE (AP) — Changpeng Zhao, the founder of Binance, the world's largest cryptocurrency exchange, faces sentencing Tuesday in a Seattle courtroom, where...
Read more »
US seeks 36 months' jail for Binance founder ZhaoChangpeng Zhao, the founder of Binance, the world's largest cryptocurrency exchange, should serve 36 months in prison after pleading guilty to violating laws...
Read more »
Binance Gets Full Dubai Permit After Zhao Cedes Control of UnitBinance Holdings Ltd. received its long-sought full crypto license in Dubai after co-founder Changpeng “CZ” Zhao agreed to give up voting control in the local entity, according to people with knowledge of the matter.
Read more »