Zhao has been released on a $175 million personal recognizance bond secured by $15 million in cash and has a sentencing hearing scheduled for Feb. The DOJ is also recommending that the court impose a $50 million fine on Zhao. Zhao personally pleaded guilty to violating and causing a financial institution to violate the Bank Secrecy Act, according to the plea agreement. Attorney General Merrick Garland said in a press conference Tuesday that the fine is "one of the largest penalties we have ever obtained." It also allowed transactions associated with terrorist groups such as Hamas' Al-Qassam Brigades, Palestinian Islamic Jihad, al-Qaida and ISIS, Yellen said in the release, noting Binance "never filed a single suspicious activity report." Treasury Secretary Janet Yellen said in a release Tuesday that the exchange allowed illicit actors to make more than 100,000 transactions that supported activities such as terrorism and illegal narcotics and that it allowed more than 1.5 million virtual currency trades that violated U.S. The Securities and Exchange Commission was notably absent. The action against Binance and its founder was a joint effort by the Department of Justice, the Commodity Futures Trading Commission and the Treasury Department. Zhao said Tuesday in a post on X, formerly Twitter, that he had "made mistakes" and "must take responsibility." He said Richard Teng, the company's former global head of regional markets, has been named the new CEO of Binance. ![]() Personal Loans for 670 Credit Score or Lower ![]() Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |