#btc #Binance #Bitcoin #SEC #avax THE PRISON SENTENCE REQUESTED FOR THE FOUNDER OF BINANCE HAS BEEN ANNOUNCED. 36 MONTHS IN JAIL

The US DOJ is requesting that Changpeng Zhao be sentenced to 3 years in prison after pleading guilty. In the statement made yesterday, it was reported that Binance's founder and former CEO must serve 36 months in prison for bypassing federal sanctions and violating money laundering laws.

The Ministry of Justice had requested a prison sentence for CZ, whom it accused in November last year, and set a bail fee of $50 million for the trial without arrest.

The following statements were included in the note sent by the US DOJ:

“The sentence in this case will be a message not only to Changpeng Zhao but to the whole world. Zhao made a huge profit by violating US laws. "The cost of this violation will be significant to effectively punish Zhao for his criminal actions and deter others who seek to build wealth and business empires in violation of U.S. laws."

CZ faced up to 18 months in prison under the agreement made after the accusations in November. However, in their application yesterday, the DOJ stated that they increased their request for a prison sentence, citing the magnitude of Zhao's crime and its greater consequences.

CZ's hearing will be held on April 30

While Zhao's lawyers accepted the $50 million fine last year, they decided not to object to a prison sentence of up to 18 months. On the other hand, CZ's case was supposed to be concluded in February. However, the hearing was postponed to April 30 by mutual agreement.

However, the prosecution claimed that Zhao was suspected of fleeing and requested that he stay in the USA until the trial date, and this request was accepted by the court.