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- The U.S. court denied Changpeng Zhao’s request to travel to Abu Dhabi despite offering Binance equity of $4.5 billion as security.
- Zhao reportedly intended to reach his home to be a part of the surgery and recovery of his close acquaintance.
- WhaleWire cited it as Zhao’s fraud scheme, stating that he would escape forever if granted permission to leave the U.S.
According to a recent court filing, Changpeng Zhao, the former CEO of Binance, has been prohibited from traveling to his home in the United Arab Emirates. Despite guaranteeing his Binance equity of $4.5 billion as security, Zhao was not permitted to reach his home for the “hospitalization and surgery” of a close person.
A recent report cited that Zhao’s lawyers requested that Judge Richard Jones permit Zhao to reach Abu Dhabi in the first week of January and spend one to four weeks in the city. The request was reportedly based on a medical case, as the lawyers stated that Zhao intended to be present at the time of the surgery and the subsequent recovery period of his close acquaintance.
The court filing hasn’t mentioned the person’s name or the details of the medical condition. According to the filing, the federal prosecutors hadn’t given a green light to Zhao’s request.
WhaleWire, a crypto analytics platform, shared a post on January 25, reflecting on Zhao’s numerous attempts to flee the United States before his imprisonment. They stated, “I guarantee that if he ever steps a foot out of the US, he will never be seen again.”
Binance CEO Changpeng Zhao is desperately trying to evade authorities and vanish amid the investigation into his massive fraud scheme. He's begging the courts for the 4th time to let him travel to the UAE before he's sentenced. This time, he says it's due to a family member's… pic.twitter.com/JAiR3UTVr3— WhaleWire (@WhaleWire) January 25, 2024
As per WhaleWire’s reports, this is the fourth time Zhao has requested court permission to travel to his home. The platform alleged that Zhao is orchestrating a fraud scheme, stating, “Binance CEO Changpeng Zhao is desperately trying to evade authorities and vanish amid the investigation into his massive fraud scheme.” In addition, questioning the reliability of the $4.5 billion security, WhaleWire noted that “it’s all backed by fraud and wash trading.”
The court filing came following the recent Binance-SEC court hearing, in which Binance lawyers chastised the SEC’s hypocritical stance on crypto regulation. Over the past months, the crypto community has been witnessing a series of events involving Binance, including the lawsuit, guilty plea, and Zhao’s resignation.
The post Court Denies Changpeng Zhao’s Fourth Attempt to Flee the US: Report appeared first on Coin Edition.