In a recent development, US prosecutors are urging former Binance CEO Changpeng Zhao to hand over all his passports as part of additional travel restrictions ahead of his sentencing. Zhao has pleaded guilty to violating federal anti-money laundering laws.

The US Attorney’s Office filed a motion at the District Court for the Western District of Washington, seeking approval from Magistrate Judge Brian Tsuchida for these travel restrictions. The prosecutors want to ensure Zhao does not leave the US before his sentencing in April.

Prosecutors Push for Travel Restrictions

The court document, submitted by US Attorney Tessa Gorman on February 23, emphasizes the need for stringent bail conditions for Zhao. The former Binance CEO resigned in 2023 following a US announcement of a $4.3 billion settlement with the exchange and his guilty plea related to money laundering charges.

Prosecutors aim to keep Zhao in the US until his sentencing on April 30 and require him to inform them of any travel plans with a three-day notice for potential objections. They have demanded the surrender of his Canadian passport and any other travel documents, including expired passports, as Zhao’s request to travel to the UAE was previously denied.

Judge Richard Jones had earlier instructed Zhao to remain in the US before his sentencing, citing concerns about his substantial wealth and limited ties to the US, which could pose a risk of him fleeing to the UAE. Despite these restrictions, Zhao remains free on a $175 bond set in November last year.

FAQs

What are the charges against Changpeng Zhao?

Changpeng Zhao has pleaded guilty to breaking federal anti-money laundering laws.

Why do prosecutors want Zhao to surrender his passports?

US prosecutors are pushing for Zhao to surrender his passports to prevent him from leaving the US before his sentencing in April, following his guilty plea.

What restrictions are being imposed on Zhao regarding his travel plans?

Prosecutors want Zhao to remain in the US until his sentencing, inform them of any travel plans with a three-day notice, and surrender his Canadian passport and any other travel documents.