Changpeng Zhao pleads guilty and will pay a million-dollar fine
Hello friends, The CEO of Binance and the entity itself have just reached an agreement and have pleaded guilty. They will pay billions in fines. They did not prevent Hamas transactions. They were fined $4.3 billion. For this, Zhao himself, the CEO of the entity, will have to make the payment of 50 million dollars The sentence will be delayed for 6 months in application but he will have to make this payment because he pleads guilty to criminal charges AND must pay more than 4 billion dollars in fines.
Changpeng Zhao will pay a fine of 50 million as I told you before and he already appeared today in court in Seattle to plead guilty and the agreement includes the Treasury Department and the Future Commodity Trading Commission ending the investigation. .
But in return he collects all this stuff but he has also been charged with three counts in addition to violations of money laundering, money laundering conspiracy to conduct an unlicensed money transfer business violations of US sanctions Binance is paying a criminal fine of 4.3 trillion of dollars according to 2 court documents revealed today and the violations also include neither preventing nor reporting suspicious transactions.
The Treasury Department says that all this has occurred and that Binance has allowed terrorist groups and all these organizations to launder and launder money thanks to cryptocurrency exchanges and transfers. The president of the Federal Reserve at the time, today the secretary of the treasury has had to come out to testify because of all this, she says that Binance allowed ISIS, mayor, Hamas to make those transactions on the platforms that she hid from the government that they laundered money and that They are not going to allow it, he has obviously had to resign as CEO of Binance.
For this reason, Binance will pay multimillion-dollar fines, Zhao himself will pay a sentence that will begin to be collected within 6 months to see where and how they begin to get the money, although a few hours ago it was rumored on social networks that Binance had moved 3,900 billion of usdt from one wallet to another. For this reason, the cryptocurrency market reacted negatively.
Binance says it turned a blind eye to its legal obligations seeking profits that deliberate failures allowed money to flow to terrorists cybercriminals and well a long list of criminals for different types of crimes, the secretary of the treasury and the final blow to Binance that will pay This multimillion-dollar fine and he sees his CEO evidently forced to resign and will now also face different judicial charges outside the treasury for everything that has happened up to this moment.
With all this mess, a lot of false news has come out that this is the end of Binance, that Binance is laundering money among other things, this is not the end of Binance, nor is Binance laundering money, they are accused of letting a terrorist group They laundered money on their platform turning a blind eye and now they are paying the consequences, unfortunately the market has turned red but this is nothing to be alarmed about, it will recover.
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