By Binance founder Changpeng Zhao has on Friday, 27th of September, 2024 been released from a correctional facility in California.
Former CEO Zhao was sentenced to four months in prison earlier this year, after pleading guilty to violating U.S. laws against money laundering at the world’s largest cryptocurrency exchange.
The US Department of Justice charged the platform with violating anti-money laundering laws, unlicensed money transmitting, and sanctions violations. As a result, the company paid the “largest corporate resolution to include criminal charges for an executive.”
As a result, the founder of the platform was forced to resign, being barred from taking a management position at the firm ever again. He was also given a four-month prison sentence, although that paled in comparison to the three years prosecutors sought for the exchange’s head.
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