In regard to travel authorization, former Binance CEO Changpeng ‘CZ’ Zhao petitions the court for an order on sealing motion.
The most recent development in the case between Changpeng ‘CZ’ Zhao and the U.S. Department of Justice (DOJ) involves CZ, the founder of Binance, petitioning a federal court for a travel authorization order.
The court had previously mandated that former Binance CEO Changpeng Zhao maintain his residence within the continental United States from his plea until his sentencing in February 2024.
Former Binance CEO Changpeng Zhao Requests Travel Authorization Once More
In a late December 27 filing, the attorney for former Binance CEO Changpeng Zhao submitted a motion to conceal an earlier motion concerning travel authorization. Defendant CZ petitions the court for an order sealing the travel authorization and travel submission.
Additionally, the sealing of the proposed order was associated with a motion to conceal a travel authorization submission. Changpeng Zhao requests that the motion, submittal, and order be sealed because they contain his child’s sensitive private medical information.
According to a report, Judge Richard Jones previously granted CZ’s motion to seal documents in opposition to the government’s petition to review the magistrate judge’s decision regarding travel restrictions for the defendant’s sentencing.
CZ was previously granted permission by a magistrate judge to visit his family in the UAE and return before the sentencing hearing. DOJ prosecutors, on the other hand, believed that CZ could flee to a country with which the United States has no extradition agreement.
Changpeng’s Finances Increases by $25 Billion
CZ admitted culpability on charges of violating anti-money laundering laws brought by the DOJ. He tendered his resignation as the chairman and CEO of Binance—board of directors, United States. Depending on the circumstances, the prescribed guideline range for the offense is between 10 and 16 months of imprisonment or 12 and 18 months.
In 2023, despite legal issues and other complications, Changpeng ‘CZ’ Zhao amassed $25 billion in wealth, demonstrating the resiliency of the cryptocurrency exchange Binance.
