The latest document released at CZ's trial is the sentencing memorandum from Latham & Watkins. In this memorandum, the causes and consequences of CZ's guilty plea are mainly explained, and 26 defendants in very similar BSA cases were not sentenced to imprisonment. It is believed that CZ should not be the first one, and CZ took the initiative to come to the United States from a non-extradition country, resigned as CEO, paid a huge fine, and took the initiative to plead guilty. These factors strongly support leniency and will be more suitable for probation.
The document also provides that CZ has done community service three times in the United States and has been away from his family for more than five and a half months. The key point is that CZ has not been prosecuted, extradited, and has not held the US government accountable. The current recommended "sentencing level is 12". I took a rough look and found that more than 16 should be more serious, and 12 is not high. The approximate sentencing is 10 to 16 months of probation.
The final conclusion is that this is a high-profile matter, but based on the facts, CZ should still be sentenced, but he is a first-time offender, a non-violent offender, and his criminal behavior does not intend to hurt anyone. He does not have the risk of recidivism. He has appeared in this country voluntarily to take responsibility. He has incurred a huge bail. But he has transformed Binance into a compliance industry leader. These factors appropriately lead to a recommendation for probation. The court should further consider three other key factors.
It is extremely rare (if ever) for such a first-time offender, with a guideline range comparable to CZ, to be sentenced to incarceration after pleading guilty, especially before indictment. He faces harsher and more dangerous conditions of incarceration than similarly situated U.S. citizens. All relevant BSA precedents point to probation. For these reasons and others, in summary, the sentence of probation is fair, appropriate, consistent with precedent, and not criminal. It exceeds the extent necessary to achieve the goal of sentencing CZ as an individual. The totality of facts and circumstances and his life's good deeds.
Of course, this is also a sentencing memorandum, not the final trial result. The final result should be seen on the evening of the 30th or the early morning of May 1st, Beijing time.
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