---
title: "Binance CZ Fights to Return Home Despite Flight Risk Worries"
url: https://diffcoin.com/binance-cz-fights-to-return-home-despite-flight-risk-worries/
description: "No flight risk seen as Binance's founder CZ voluntarily came to US court to plead guilty, take responsibility in AML case"
published: 2023-11-24
updated: 2023-11-24
author: "Mila"
site: "Diffcoin"
---

# Binance CZ Fights to Return Home Despite Flight Risk Worries

#### Share this article

Changpeng Zhao, the founder of the world’s largest crypto exchange Binance, filed a legal brief yesterday opposing the government’s motion to prevent him from returning home to the United Arab Emirates (UAE) as he awaits sentencing.

Zhao pleaded guilty earlier this week to one count of failing to maintain an effective anti-money laundering program. The plea was part of a global resolution in which Zhao, Binance, and several US agencies agreed to $4.3 billion in fines and penalties.

> “Mr. Zhao presents no risk of flight, having voluntarily come before the Court to accept responsibility and plead guilty, and the government’s motion should be denied,” according to the legal brief.

In the brief, Zhao’s defense team argues he poses no flight risk, citing his voluntary travel to the US to accept responsibility, his lack of criminal history, and the “robust” bail conditions set by the magistrate judge. They also contend his UAE citizenship does not make him a flight risk, pushing back on the government’s emphasis on the lack of an extradition treaty.

This week, Zhao was released on bail pending his sentencing hearing, with the court ordering him to post a substantial personal recognizance bond of $175 million. As a condition, he must appear back in a Seattle courtroom 14 days prior to his February sentencing date.

Zhao has already transferred $15 million to his attorney in the US, while his guarantors put up over $5 million in cash and property.

With sentencing guidelines estimated between 10-18 months, the defense claims there is no incentive for Zhao to flee at this stage after resigning from Binance and entering a guilty plea. They argue he came to resolve the case, not “run.”

A judge will soon rule on whether Zhao can await his fate from his home base in the UAE or must stay grounded on US soil.

#### Share this article

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.

[Source link](https://cryptobriefing.com/binance-cz-fights-return-home-flight-risk-worries/?utm_source=feed&utm_medium=rss)