According to the US Bureau of Prisons (BOP), Chanpeng CZ Zhao, founder and former CEO of Binance, will be released from the Reentry Management Facility (RRM) in Long Beach on September 29.
This date was already expected, but confirmation from the BOP came this morning.
RRM was serving a four-month sentence at Lompoc Federal Prison in California; on August 22, the BOP website reported his whereabouts at Long Beach Prison in central California. According to the BOP, RRM assists inmates nearing their release date by serving as the Federal Bureau of Prisons' local liaison to the federal courts, the Marshals Service, and state and local correctional facilities.
On April 30, U. S. District Judge Richard Jones in Seattle sentenced CZ to four months in prison for allegedly failing to implement an effective anti-money laundering system that made #Binance a convenient platform for cybercriminals and terrorists.
the sentence was related to a U. S. Department of Justice (DOJ) investigation into Zhao and Binance's activities; in November 2023, Zhao paid a $50 million fine and stepped down as CEO of Binance, ending a multi-year investigation. Meanwhile, the exchange was fined US$ 4.3 billion.
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