CZ in jail

Pekelo said:
That is for the company to stay in business. They call it the cost of doing business.

Now here is a ponderable: Let's say YOU are a billionaire, and one country (where you don't intend to live at all) wants you to spend a few months in prison. Would you do it?

I think they offered him a deal what he couldn't refuse. They probably told him to take the deal and pay the business and personal fines (and give the customers' data up), rather than being put on the terrorist list and being hunted for the next few decades, while the company goes out of business. I wonder if they give him immunity from further charges. If not, he may stay for a while in the USA.
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Few months? What's the point of that? US Govt gonna sentence him, it's gotta be a few years. Dude needs Steve Cohen's lawyers to help him out.
 
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lwlee said:
Few months? What's the point of that?
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It depends on 2 things:

1. What is he charged with and what are the max. penalties for that?

2. What kind of deal did he make?

I assume the DOJ was after Binance's customers' list, thus they didn't go too hard for him. I guess they could have charged him with 10+ years penalties, but if you are a billionaire with money access anywhere in the world, would you do years of jailtime? The point is, the DOJ risked him not making a deal but running, so they went easy on him. 18 months could end up just under a year or much less.
 
US wants to double the max. penalty for CZ:

https://www.reuters.com/legal/us-seeks-36-months-jail-binance-founder-zhao-2024-04-24/

U.S. prosecutors want Changpeng Zhao, the founder and former chief executive of Binance, the world's largest cryptocurrency exchange, to serve three years in prison after he pleaded guilty to violating laws against money laundering.
Prosecutors made the request in a Tuesday night filing in Seattle federal court.
They said sentencing Zhao to twice the maximum 18 months recommended under federal guidelines would reflect the magnitude of his willful violations, and send a message that "the right choice, every time, is to comply with the law."
 
The US just simply doesn't take financial crimes seriously. That's why it keeps happening over and over again. Nothing else needs to be said. CZ was a vile person who makes Milken look like Frosty the Snowman.
 
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