The lawyers representing former Binance CEO Changpeng Zhao have responded to claims that he is a flight risk and should not be allowed to leave the country. In a court filing, Zhao's defense argued that he is not a flight risk because he voluntarily traveled to the United States to surrender and take responsibility for his crimes. They also highlighted that he has no criminal past and is well-known worldwide. Furthermore, the defense pointed out that Zhao recently had a child and preventing him from being with his family would be punitive. They claimed that allowing Zhao to remain in the UAE would enable him to take care of his family and prepare for his return to the US for sentencing. The defense argued that fleeing would result in additional charges and severe consequences, while returning would potentially lead to a short or no prison term and the opportunity to move on from the matter. Zhao himself stated that he wants to take responsibility and close this chapter in his life, rejecting claims that he would try to escape justice in the UAE. The filing comes after Zhao pled guilty to anti-money laundering charges and stepped down as CEO of Binance, with the company being required to exit the US market and pay a $4.3 billion penalty. Zhao has been released on a $175 million bond and could face up to 10 years in prison, with his sentencing scheduled for February 23rd, 2024.
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