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As per CNBC Reports, Binance Ex-CEO Changpeng Zhao has been imprisoned in Lompoc, California. The News was confirmed by his defense team at Latham & Watkins.
In April, the United States federal court in Seattle sentenced Changpeng Zhao to four months after he pleaded guilty to violating money laundering laws. The former CEO of Binance received a sentence significantly shorter than the three years federal prosecutors had requested. The defense had sought a five-month probationary period, while the recommended prison sentence ranged between 12 and 18 months.
Additionally, Zhao and Binance agreed to pay the US Commodity Futures Trading Commission a $4.3 billion and a $50 million penalty.