Binance founder and former CEO Changpeng Zhao (CZ) may be released from prison today, September 27, according to Fortune. This contradicts earlier data from the US Federal Bureau of Prisons (BOP) that indicated a Sunday, September 29 release date.
The contradiction, however, is based on technical guidelines. CZ has been serving a four-month sentence at the Federal Correctional Institution in Lompoc, California since July. The 47-year-old former crypto exec could be be released given how federal rules allow inmates to leave custody early if their release date falls on a weekend.
Reports suggest a chauffeured car may be waiting to transport CZ to a private jet upon his release. The plane is likely to fly him to either Dubai or Paris, where his partner He Yi and their children currently reside.
CZ was found guilty of failing to implement proper anti-money laundering controls at Binance, among other charges. Despite the Department of Justice pushing for a three-year sentence, CZ received a relatively lenient four-month term. His legal team secured this outcome by sharing character references and highlighting his plans to focus on philanthropy.
On April 30, US District Judge Richard Jones handed down a four-month prison sentence to Changpeng Zhao (CZ) in Seattle. The charges stemmed from allegations that CZ failed to implement an effective anti-money laundering framework at Binance, potentially enabling cybercriminal and terrorist activities on the platform.
