Binance founder CZ could get out of prison today, prison guidelines suggest
The post Binance founder CZ could get out of prison today, prison guidelines suggest appeared on BitcoinEthereumNews.com.
Key Takeaways Changpeng Zhao is expected to be released early due to weekend release policies. Zhao’s release may influence Binance Coin prices and market volatility. Binance founder and former CEO Changpeng Zhao (CZ) may be released from prison today, September 27, according to Fortune. This contradicts earlier data from the US Federal Bureau of Prisons (BOP) that indicated a Sunday, September 29 release date. The contradiction, however, is based on technical guidelines. CZ has been serving a four-month sentence at the Federal Correctional Institution in Lompoc, California since July. The 47-year-old former crypto exec could be be released given how federal rules allow inmates to leave custody early if their release date falls on a weekend. “The Bureau of Prisons may release an inmate whose release date falls on a Saturday, Sunday, or legal holiday, on the last preceding weekday unless it is necessary to detain the inmate for another jurisdiction seeking custody under a detainer, or for any other reason which might indicate that the inmate should not be released until the inmate’s scheduled release date,” a program document from the BOP states. Inmate data for Changpeng Zhao. Source: Federal Bureau of Prisons Reports suggest a chauffeured car may be waiting to transport CZ to a private jet upon his release. The plane is likely to fly him to either Dubai or Paris, where his partner He Yi and their children currently reside. CZ was found guilty of failing to implement proper anti-money laundering controls at Binance, among other charges. Despite the Department of Justice pushing for a three-year sentence, CZ received a relatively lenient four-month term. His legal team secured this outcome by sharing character references and highlighting his plans to focus on philanthropy. On April 30, US District Judge Richard Jones handed down a four-month prison sentence…
Filed under: News - @ September 27, 2024 8:22 am