Changpeng Zhao’s Protection Requires Probation in Cash Laundering Case

• CZ Zhao’s authorized workforce requests probation forward of the April 30 sentencing.
• The protection emphasizes Zhao’s first-time, non-violent offender standing.
• Advocates suggest residence confinement in Abu Dhabi to forestall re-offending.

Whereas prosecutors search a 36-month jail time period, Binance former CEO Changpeng Zhao’s “CZ” protection has submitted a sentencing memorandum highlighting a number of causes their shopper must be granted probation.

CZ’s authorized workforce has requested the court docket to grant him probation after he pleaded responsible to cash laundering prices. This request comes earlier than the sentencing listening to scheduled for April 30. 

The protection argues that Zhao is a first-time, non-violent offender convicted solely of anti-money laundering compliance failure. CZ’s workforce careworn that the federal government didn’t accuse him of further monetary crimes resembling “cash laundering, fraud, theft, market manipulation, or any comparable type of illegal conduct.”

Zhao’s attorneys additionally highlighted his background and dedication to societal well-being as grounds for leniency. The protection acknowledged that CZ constructed Binance “as a drive for optimistic change on the planet.” As well as, they pointed to his involvement in charitable endeavors, together with contributions to humanitarian support worldwide and schooling initiatives by means of Binance Charity.

The protection additional famous Zhao’s “outstanding” and “distinctive” acceptance of duty, indicating a number of situations as proof of his deep regret. These embody a voluntary responsible plea, cooperation with the federal government, a $4.3 billion nice, and his resolution to step down from his CEO place at Binance and associated entities. 

Moreover, CZ’s protection asserted that probation is a good and simply final result, citing authorized precedents such because the BitMEX prosecution, the place defendants have been granted probation as a substitute of imprisonment. The workforce additionally expressed issues about potential sentencing disparities and the possibly harsher circumstances non-citizen defendants could face in jail, highlighting the necessity for a balanced and equitable strategy.

In proposing probation, the protection urged the potential of Zhao’s residence confinement at his Abu Dhabi residence, noting that this association would mitigate any threat of re-offending.

Zhao’s protection advocated for probation over imprisonment, contending that it might tackle pertinent components outlined in 18 U.S.C. § 3553(a) whereas serving the pursuits of justice and equity.