CZ released on $175M bond, could return to Dubai
Binance founder Changpeng “CZ” Zhao will pay a $175 million release bond and agree to return to the United States 14 days before his Feb. 23, 2024 sentencing — possibly allowing him to return to Dubai.
In a Nov. 21 bond document filed in a Seattle federal court, Zhao agreed to share with the court where he would reside and that a warrant could be issued for his arrest if he fails to show up for his court date.
Failure to appear in court carries a $250,000 fine and a maximum of 10 years in jail.
The U.S. is expected to review Zhao’s bail order. If a judge denies review of the order, it will become effective on Nov. 27 at 5 pm Washington time. If the judge grants a review before that date, Zhao must stay in the U.S. until a decision is made.
No extradition agreement exists between the U.S. and the United Arab Emirates. However, the two countries made a bilateral agreement to enhance law enforcement cooperation on Feb. 24.
Related: Court unseals indictments against Binance and CZ, detailing expected guilty pleas
Zhao has been based in Dubai for several years. Despite his presence there, Binance still has no official global headquarters.
The bail agreement follows a $4.3 billion settlement between the cryptocurrency exchange and the U.S which saw Zhao depart as Binance’s CEO after pleading guilty to various Anti-Money Laundering violations.
Magazine: US enforcement agencies are turning up the heat on crypto-related crime
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Conservative Party leader Kemi Badenoch has called on Sir Keir Starmer to sack Treasury minister Tulip Siddiq over allegations she lived in properties linked to allies of her aunt, Sheikh Hasina, the deposed prime minister of Bangladesh.
It comes after the current Bangladeshi leader, Muhammad Yunus, said London properties used by Ms Siddiq should be investigated.
He told the Sunday Times the properties should be handed back to his government if they were acquired through “plain robbery”.
Tory leader Ms Badenoch said: “It’s time for Keir Starmer to sack Tulip Siddiq.
“He appointed his personal friend as anti-corruption minister and she is accused herself of corruption.
“Now the government of Bangladesh is raising serious concerns about her links to the regime of Sheikh Hasina.”
Ms Siddiq insists she has “done nothing wrong”.
Her aunt was ousted from office in August following an uprising against her 20-year leadership and fled to India.
Ms Siddiq is also named with her aunt in Bangladesh court documents about meetings with the Russian government.
Tory leader Kemi Badenoch has called on Sir Keir to sack the minister
Read more from Sky News:
Ten Reform councillors quit in protest
Liz Truss sends cease and desist letter to Starmer
As economic secretary to the Treasury, Ms Siddiq is responsible for policy on both the City and tackling corruption.
She referred herself to the prime minister’s ethics watchdog on Monday following the reports about the properties.
On the same day, the prime minister said: “Tulip Siddiq has acted entirely properly by referring herself to the independent adviser, as she’s now done, and that’s why we brought into being the new code.
“It’s to allow ministers to ask the adviser to establish the facts, and yes, I’ve got confidence in her, and that’s the process that will now be happening.”
Kenya is preparing legislation to regulate cryptocurrencies with a draft proposal open for public feedback until Jan. 24.
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