Changpeng Zhao,the founder of Binance pleaded guilty to money laundering and other crimes in the United States and is awaiting sentencing. Reuters reported that U.S. prosecutors requested that Zhao Changpeng be sentenced to 36 months in prison.
The report quoted U.S. prosecutors as telling the U.S. District Court for the Western District of Washington State that Zhao Changpeng should be sentenced to 36 months in prison, which is higher than the federal sentencing guideline, given the seriousness and consequences of his intentional violation of U.S. law.
U.S. authorities said Binance failed to report more than 100,000 suspicious transactions with terrorist groups including Hamas, Al-Qaeda and the Islamic State of Iraq and Syria (ISIS). Prosecutors allege that Binance’s platform also enabled the sale of child sexual abuse material and was the recipient of much of the ransomware proceeds.
After Changpeng Zhao pleaded guilty to charges related to money laundering and sanctions violations in November last year, he was released on bail of $175 million and is expected to be sentenced in Seattle on the 30th of this month. Federal sentencing guidelines set Zhao Changpeng’s maximum sentence at 18 months. He has agreed to give up his appeal if his sentence is no more than 18 months.
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