Former Binance CEO Changpeng Zhao’s legal team is urging a U.S. judge to permit him to return to the United Arab Emirates (UAE) before his sentencing, challenging the Justice Department’s request to bar his departure. Zhao, a UAE and Canada citizen, resigned from Binance after pleading guilty to willfully neglecting the cryptocurrency exchange’s anti-money laundering program.
In a filing on Thursday, Zhao’s lawyers requested Judge Richard Jones not to overturn bail conditions that would allow him to leave the U.S. pending sentencing. The plea deal involves Binance paying over $4.3 billion, with Zhao agreeing to a $150 million penalty and a potential 18-month prison term.
The Justice Department seeks to reverse a magistrate judge’s decision permitting Zhao’s return to the UAE, emphasizing concerns about securing his presence for sentencing due to the absence of an extradition treaty and Zhao’s considerable assets. Despite this, Zhao’s legal team argued that his acceptance of responsibility and substantial bail demonstrated he wasn’t a flight risk.
Zhao’s return to the UAE, the defense contends, is necessary for family responsibilities and preparation for sentencing. The Justice Department has until Monday to respond to the plea.
