CZ Set to Be Released From Prison on September 29

CN
coindesk
Follow
2 days ago


Binance founder Changpeng “CZ” Zhao, who is currently serving a four-month prison sentence, will be a free man by the end of the month.


According to the U.S. Bureau of Prisons website, Zhao – also known as inmate 88087-510 –


will be released from custody on Sept. 29, 118 days after reporting to a low-security prison, Lompoc II, on California’s central coast. He spent three months in Lompoc II before being moved to a halfway house in San Pedro, California in late August.


Zhao was sentenced to four months in prison in April, five months after he pleaded guilty to violating the Bank Secrecy Act by failing to set up an adequate know-your-customer (KYC) program at Binance. As part of his guilty plea, Zhao also agreed to pay a $50 million fine and step down as CEO of the crypto exchange.


After Zhao stepped down, Richard Teng – a former regulator in both Abu Dhabi and Singapore – was appointed CEO of Binance. In addition to the charges against Zhao, Binance was also criminally charged with violating U.S. sanctions and money transmitting laws and agreed to pay $4.3 million to settle the allegations.


Read more: New Binance CEO Sees No Need for IPO As He Plots 100-Year Strategy for the Crypto Exchange


At an estimated net worth of $25.3 billion, according to the Bloomberg Billionaires’ Index, Zhao is believed to be the richest person to ever go to prison in the U.S.


免责声明:本文章仅代表作者个人观点,不代表本平台的立场和观点。本文章仅供信息分享,不构成对任何人的任何投资建议。用户与作者之间的任何争议,与本平台无关。如网页中刊载的文章或图片涉及侵权,请提供相关的权利证明和身份证明发送邮件到support@aicoin.com,本平台相关工作人员将会进行核查。

Share