A US court judge has ordered former Binance CEO Changpeng Zhao to hand over his passports and travel documents as he awaits sentencing in April.
In November, Zhao pleaded guilty to violating anti-money laundering laws and resigned from his position as CEO of the world’s largest cryptocurrency exchange.
Zhao has been released on a $175 million bond, but U.S. prosecutors filed a motion last month proposing new conditions.
In a new bail modification order, Judge Richard Jones says Zhao must surrender his Canadian passport to a third-party custodian employed and supervised by his lawyer.
“The third party custodian must maintain control of that Canadian passport and must accompany defendant on any travel requiring identification documents.”
Zhao must also surrender all his current and expired passports and travel documents to his defense counsel, who may only return the documents if he has been given permission to do so by the pre-trial services or the court.
“The suspect may not apply for or obtain a new passport or travel document from any country without the permission of the court.”
In a lawsuit filed in November, prosecutors listed reasons why they consider Zhao a flight risk.
“As a non-U.S. citizen of the UAE (United Arab Emirates) with significant wealth outside the United States, minimal ties to the United States, and a residence in a country without an extradition treaty with the United States, Zhao poses a serious risk of flight and [it is] requested that he be required to remain in the continental United States pending sentencing.
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