Former Binance CEO Changpeng “CZ” Zhao has requested probation as his sentence after pleading guilty to violating money laundering laws. His legal team, including Robert Palmquist, has filed declarations in support of this recommendation, suggesting he could serve time at the Federal Detention Center (FDC) SeaTac, Washington.
In an April 23 filing in U.S. District Court for the Western District of Washington at Seattle, Robert Palmquist stated it was “highly probable” that Zhao would serve his sentence at FDC SeaTac. Palmquist, the former warden of the facility, described it as having “little natural light” and being understaffed, posing risks to Zhao’s physical and mental health due to his wealth and public figure status.
Palmquist highlighted potential risks such as theft and extortion due to Zhao’s financial resources and naivety concerning prison experiences. FDC Seatac has previously housed individuals involved in high-profile cases, including a Proud Boys member charged in connection with the Jan. 6, 2021, Capitol attack and Jim Bell, a ‘crypto-anarchist.’
Zhao’s legal team submitted letters from friends, family members, and business leaders supporting a lenient sentence. Prosecutors have requested three years in prison and a $50 million fine, but under U.S. sentencing guidelines, a judge could impose a sentence of up to 10 years, with a recommended range of 12 to 18 months for Zhao’s specific charge.
Zhao has not publicly commented on the charges since his guilty plea as part of a $4.3 billion settlement between U.S. authorities and Binance in November 2023. In a letter to Judge Richard Jones, dated Feb. 2, Zhao apologized for his “poor decisions” and expressed readiness to accept responsibility. He is scheduled to return to court on April 30 for sentencing, having been free to travel within parts of the U.S. on a $175 million bond since November.
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