Prosecutors demand extradition of Zhao Changpeng’s passport before sentencing

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CZ is subject to new travel restrictions that the U.S. Attorney’s Office has asked a federal judge to approve.

Zhao is a citizen of the United Arab Emirates, and the judge denied his request to visit his family before sentencing.

Binance’s former CEO Changpeng “CZ” Zhao has been hit with new travel restrictions that the U.S. Attorney’s Office has asked a federal judge to approve.

In documents filed Feb. 23 in U.S. District Court for the Western District of Washington, U.S. Attorney Tessa Gorman asked Magistrate Judge Brian Tsuchida to grant a motion outlining the conditions under which CZ will be released on bond.

Zhao’s attorneys requested that he remain in the U.S. until his sentencing hearing on April 30 and that he be given three days’ notice before departure so the government can file its objections.

The U.S. Attorney’s Office asked CZ to turn over “all other current and expired passports and travel documents” in addition to its Canadian passport to legal representation. Additionally, Zhao is a citizen of the United Arab Emirates, and the judge denied his request to visit his family before sentencing.

According to the petition, Zhao’s lawyers opposed the draft draft, saying his team could continue to find ways to take Binance’s former CEO out of the country.

CZ pleaded guilty in November 2023 to one felony count of failing to maintain a functional anti-money laundering program at Binance. He has been free on $175 million bond since the indictment was filed.

As part of a $4.3 billion deal between U.S. authorities and the cryptocurrency exchange, CZ resigned as CEO of Binance.

Judge Richard Jones accepted a $1.8 billion fine and $2.5 billion forfeiture on February 23. The U.S. Securities and Exchange Commission filed a lawsuit against CZ, Binance, and Binance US in June 2023. This case is still pending. At a hearing on February 23, Judge Jones said:

“This is truly an example of a company’s ethics being undermined by greed.”

Richard Teng, Binance’s former head of regional markets, took over as CEO following CZ’s resignation.

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