Prosecutors: CZ Should Remain in US and Not Return to UAE before Trial

A federal judge has accepted CZ’s guilty plea for violations of the Bank Secrecy Act.

This comes as part of the recent $4.3 billion settlement with the Binance founder made with various U.S. agencies. As part of the settlement, CZ stepped down as Binance CEO and paid $150 million to regulators.

However, CZ could still face up to 18 months in prison. As well as this, the judge has yet to decide whether CZ can leave the U.S. before his sentencing scheduled for February 23 next year.

While CZ is released on a $175 million bond, federal prosecutors are opposing his departure from the U.S., citing concerns about ensuring his return, given the lack of an extradition treaty with the UAE, where he resides.

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Prosecutors argue that, with his wealth, CZ could choose to stay in the UAE indefinitely. The judge’s travel restriction order is pending a review motion from the U.S. government.