protos.com
The US has ordered former Binance CEO Changpeng Zhao to surrender all of his passports, active or expired, to a third party and keep authorities updated on his travels.
That’s according to a legal filing submitted yesterday, modifying Zhao’s bond conditions for release. As part of the bond, United States District Judge A. Jones ordered Zhao to remain in the US for the remainder of his sentencing and notify court authorities of any planned travel.
The ex-Binance chief will also give up his Canadian passport to a third-party custodian who must accompany him whenever he travels anywhere that requires identification. In addition, the filing states Zhao “may not apply for or obtain a new passport or travel document from any country without the Court’s permission.”
The third parties holding the former Binance exec’s passports can only return them to him with the permission of pretrial services or the court.
Did Binance ex-chief CZ really come to the US voluntarily?
Read more: Binance ordered to pay $2.7B to CFTC, former chief to pay $150M
Zhao pleaded guilty last November to violating the Bank Secrecy Act, failing to register Binance as a money services business, and failing to create an effective anti-money laundering program. He is scheduled to be sentenced on April 30.
Last week the US applied to modify Zhao’s bond requirements with the travelling restrictions. In response, Zhao argued the restrictions would be unnecessary as his travel “has not been an issue to date.”
Arguing against Zhao’s defense, the government said, “something that ‘has not been an issue to date’ can become an issue in the future.”
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