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Last month, Binance Holdings agreed to pay over $4.3 billion and
pleaded guilty to breaking U.S. anti-money laundering and
sanctions laws. Zhao also pleaded guilty and faces a maximum
prison sentence of 18 months under federal guidelines and has
agreed not to appeal any sentence up to that length.
A magistrate judge previously said Zhao could return to the
United Arab Emirates, where he has been living, ahead of his
February sentencing hearing. Last month, the district judge said
he would review the issue.
The Justice Department asked the judge to require Zhao to stay
in the country, saying he posed a flight risk. Lawyers for Zhao
disputed that assertion, noting that he paid a "substantial"
bail package and voluntarily came to the United States to accept
responsibility for his actions.
But in a court document filed on Thursday, the District Court
judge in Seattle agreed with the Justice Department and said
Zhao had not convinced the court he is unlikely to flee if
allowed to return to the UAE.
"While the bail package is substantial, if not unprecedented, it
is a package that appears to be largely comprised of assets
beyond the government's reach," Jones said in Thursday's court
filing.
Zhao is able to remain free and travel within the United States,
according to the conditions of his bail. His sentencing hearing
is scheduled for Feb. 23, 2024.
(Reporting by Chris PrenticeEditing by Chris Reese and Leslie
Adler)
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