- A federal judge denied Binance founder Changpeng “CZ” Zhao’s request to travel outside the U.S. for the second time as he awaits sentencing on criminal charges.
- The ruling follows Zhao pleading guilty last month to violating the Bank Secrecy Act. He was released on a $175 million bond and met other financial conditions.
- Prosecutors previously claimed Zhao was a flight risk and should remain in the U.S. ahead of sentencing, arguing he has the means and motive to flee.
A federal judge has denied Binance founder Changpeng “CZ” Zhao’s request to travel outside the U.S. for the second time as he awaits sentencing on criminal charges.
Background
The ruling by Judge Richard Jones of the U.S. District Court for the Western District of Washington marks the second time Zhao has been barred from traveling abroad. Prosecutors previously argued the former Binance executive poses a flight risk.
The sealed decision filed Friday did not disclose details of Zhao’s opposition to the court blocking his return to the United Arab Emirates. His three children and their mother live in the UAE.
Zhao pleaded guilty last month to violating the Bank Secrecy Act. He was released on a $175 million personal recognizance bond and met other financial conditions.
Travel Denial Follows Guilty Plea
The judge’s latest travel denial for Zhao comes after he pleaded guilty to one count of violating the Bank Secrecy Act.
In November, Zhao was released on a $175 million personal recognizance bond and agreed to other financial conditions. He is scheduled to be sentenced in February.
Prosecutors previously claimed Zhao was a serious flight risk and should remain in the U.S. ahead of sentencing. They argued he has both the means and motive to flee the country.
