Former Binance CEO Zhao Unable to Return to UAE

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A US federal judge in Seattle has ruled that Changpeng Zhao, the former CEO of Binance, is not allowed to return to his home in the United Arab Emirates until he is sentenced in February.

The decision was made on November 27, but is still pending further review. This ruling was issued after prosecutors argued that Zhao, who is wealthy and whose home country has no extradition treaty with the U.S., may attempt to flee.

On Thursday, US District Judge Richard Jones rejected the possibility of Zhao returning to the UAE before his sentencing, as reported by Bloomberg.

Zhao had previously pleaded guilty in a Seattle court to violating the Bank Secrecy Act and causing a financial institution to violate it. He also agreed to pay a fine of $50 million. In theory, Zhao could face up to 10 years in prison.