Changpeng Zhao’s release date from FCI Lompoc II has been extended to September 29.
CZ’s delayed entry into custody shifted his prison term timeline, initially set for Seatac.
Legal adjustments and protections, including due process rights, influenced CZ’s sentencing and facility placement.
Changpeng Zhao (CZ), the founder of Binance, will not be released from prison on August 30 as some had anticipated. His release from Federal Correctional Institution Lompoc II, a low-security federal prison three hours north of Los Angeles, is now scheduled for September 29, assuming no changes to his situation occur.
Earlier this year, U.S. District Judge Richard Jones sentenced CZ to a four-month term, initially recommending his detention at the Federal Detention Center (FDC) in SeaTac, Washington.
The sentence was handed down on April 30, leading many to believe that CZ’s release date would be August 30, assuming immediate imprisonment. However, CZ’s actual entry into the Bureau of Prisons (BOP) system occurred much later.
@cz_binance was sentenced to four months in prison on Tuesday, April 30, 2024.If he had started his jail time right away, his due date to be a free man would be August 30, 2024.#facts https://t.co/kk9tVKabkG
— Pahueg 🌐 (@pahueg) July 23, 2024
CZ’s legal team, which includes Quinn Emanuel Urquhart & Sullivan, Davis Wright Tremaine, and Latham & Watkins, worked to secure additional weeks of freedom for him. Their efforts resulted in a delayed entry into custody, with CZ remaining out of prison until mid-May. Coordination between his lawyers, probation, and pretrial services offices led to his imprisonment starting in late May, nearly a month after his sentencing.
A recent check of the BOP database confirmed that CZ is not at FDC SeaTac but at FCI Lompoc II. This facility is known for its lower security and different administrative structure. The shift to FCI Lompoc II was part of the unique arrangements surrounding CZ’s prison sentence, which included delayed entry and the choice of a less secure facility.
The Fifth Amendment of the U.S. Constitution, which guarantees due process to all individuals in the United States, including non-citizens like CZ, has been a pivotal factor in the handling of his case. This constitutional protection ensured that CZ received all the legal accommodations and adjustments that have characterized his prison term thus far.
The post Why Binance Founder CZ Won’t Be Leaving Prison Until September appeared first on Coin Edition.