Editorial, CNBC Indonesia
Tech
Thursday, 01/25/2024 20:30 WIB
Foto: Changpeng Zhao, Co-Founder & CEO, Binance. (File Foto – Sportsfile for Web Summit via Ge/Ben McShane)
Jakarta, CNBC Indonesia – A United States federal judge denied Changpeng Zhao’s request to return home. The Binance founder’s offer of security worth US$ 4.5 billion (Rp. 71.24 trillion) was rejected.
Zhao, known as CZ, submitted a travel request to return to his home in the United Arab Emirates. The reason was that he had to accompany “someone in his life” who was hospitalized and awaiting surgical operation.
In order to be given permission to return to the Middle East, CZ offered collateral worth IDR 71.24 trillion in the form of shares. However, his request was rejected by judge Richard Jones.
Zhao already pleaded guilty before a judge in November to charges of violating anti-money laundering rules. He is also ready to step down from Binance. Binance itself agreed to pay a fine of US$ 4.3 billion in the same case.
The reading of the verdict on CZ is scheduled for February 23, 2024. He is still free on bail of US$ 175 million but is prohibited from leaving the United States until the verdict is read.
CZ’s lawyer submitted a request for permission to the judge so that the Canadian-born man could visit Abu Dhabi for 1-4 weeks. The names of “close people” who were hospitalized were deliberately blacked out in court documents released to the public.
Jones in early December also rejected Zhao’s request to return to the UAE. According to the judge, CZ’s wealth made him a high risk of flight.
“The defendant has extraordinary wealth and property in other countries that have no ties to the US. His family lives in the UAE and he has special status in the UAE. Therefore, the court considers that the defendant does not have clear and convincing evidence that he will not flee after permitted to fly to the UAE.
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2024-01-25 13:30:00
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