US prosecutors seek 36-month prison sentence for CZ

Odaily Odaily News According to court documents, U.S. prosecutors are seeking a 36-month prison sentence for former Binance CEO CZ. (Jinshi) Earlier, it was reported that CZ will be sentenced in the U.S. District Court for the Western District of Washington on April 30, local time, when Judge Richard Jones will hear statements from prosecutors and CZ's lawyers. In November 2023, he pleaded guilty to violating the Bank Secrecy Act for failing to maintain an effective anti-money laundering program. CZ's actions included failing to meet the prescribed anti-money laundering standards in Binance's operations, and he has reached a settlement with U.S. authorities, agreeing to pay $4.3 billion to resolve civil regulatory enforcement actions. According to the U.S. sentencing guidelines, he faces a recommended sentence of 12 to 18 months. Some believe that given CZ's guilty plea and cooperation with authorities, he may receive leniency.