US DOJ Prosecutors Requested Protective Order Against Former Binance CEO Changpeng Zhao
According to the latest update on US vs. Changpeng Zhao (former CEO of Binance), the US Department of Justice prosecutors have requested the court for a new proposed order.
Following the recent postponement of CZ’s sentencing for money laundering, the DOJ lawyers have filed a motion for a proposed protective order in the case against the former Binance CEO.
The protective order would enable the DOJ to have control over who gets access to private witness records, financial papers, and other court documents. The prosecutors believe that this motion is necessary as the case involves sensitive information.
The proposed protective order aims to protect the identities of sensitive witnesses, confidential letters, and medical data.
As per CZ’s defense team, they have not opposed the motion filed by the prosecutors.
Anti-money laundering law violations could face up to 20 years of incarceration. According to experts, CZ could serve time in prison for 10 years but the lawyers now think that CZ could face an 18-month prison term for money laundering charges.
Changpeng Zhao pleaded guilty to money laundering and violating sanctions in November last year and is currently up for sentencing on April 30. CZ is currently out on bail with a $190 million bond and is not permitted to leave the country.
As for Binance, the company agreed to pay a total fine of $4.3 billion. The US prosecutors have urged a federal judge in Seattle to accept a plea deal for Binance. As part of this settlement, Changpeng Zhao paid $50 million in penalty and has stepped down from his role as CEO of Binance.
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