Changpeng Zhao pleaded guilty to violating US anti-money laundering laws and agreed to step down as Binance CEO. on Tuesday to four months in prison after pleading guilty to violating US money-laundering laws at the world's largest
"You had the wherewithal, the finance capabilities, and the people power to make sure that every single regulation had to be complied with, and so you failed at that opportunity," he said.Prosecutors said Binance employed a Wild West model that welcomed criminals and did not report more than 100,000 suspicious transactions with designated terrorist groups including Hamas, al-Qaeda and Islamic State.
Zhao stepped down as Binance's chief in November when he and the exchange he founded in 2017 admitted to evading money-laundering requirements under the Bank Secrecy Act. "It's always the case the government asks for more than they think they'll get," said Robert Frenchman, a lawyer specializing in white-collar crime."Going that much above guidelines for a pleader is unusually aggressive."
Cryptocurrency
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Binance's CEO Zhao faces sentencing over money laundering violationsWASHINGTON : The former chief executive of Binance, the world's largest cryptocurrency exchange, could face years in prison when he is sentenced on Tuesday after his guilty plea to violating U.S. money-laundering laws.U.S.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
OCBC CEO Helen Wong's Salary Overtakes DBS CEO Piyush Gupta in 2023OCBC group chief executive Helen Wong's salary increased in 2023 as the bank's full-year earnings reached a new high. Wong's annual pay for the year came in at $12.1 million, surpassing DBS CEO Piyush Gupta's salary of $11.2 million. Gupta's variable compensation was reduced due to digital disruptions in the bank's services.
Source: asiaonecom - 🏆 10. / 59 Read more »
Daughter of UOB CEO buys good class bungalow from ex-Keppel CEO for $39.5 millionGrace Wee, the youngest child of Wee Ee Cheong, is buying the Ford Avenue property.
Source: The Straits Times - 🏆 8. / 63 Read more »
UOB CEO’s daughter buys GCB worth S$39.5M from ex-Keppel CEOThe GCB is located on Ford Avenue
Source: IndependentSG - 🏆 9. / 63 Read more »
'He was ours': Seattle remembers Kurt Cobain on 30th anniversary of his deathSEATTLE — Fans and admirers from around the world descended on Seattle this week to pay tribute to Kurt Cobain 30 years after the troubled songwriter and lead singer of the seminal grunge rock band Nirvana took his own life. Juan Prado Teno, a drummer from Chile and member of the fan group Nirvana Latino, said he identified with the...
Source: asiaonecom - 🏆 10. / 59 Read more »
Detained Binance executive in court on Nigerian tax, money laundry chargesABUJA : One of the two executives from Binance, the world's largest cryptocurrency exchange, detained in Nigeria appeared in an Abuja court on Thursday to face tax evasion and money laundering charges.Binance and two of its executives Tigran Gambaryan, a U.S.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »