On April 30, 2024, U.S. District Judge Richard A. Jones sentenced Binance founder and former CEO Changpeng Zhao to four months in prison in federal court in Seattle. Zhao had pleaded guilty to willfully violating the Bank Secrecy Act by causing Binance to fail to maintain an effective anti-money-laundering program. Prosecutors had sought 36 months; Zhao’s lawyers asked for probation.
What happened at Changpeng Zhao’s sentencing hearing?
The hearing took place on April 30, 2024, in the U.S. District Court for the Western District of Washington. Judge Richard A. Jones imposed a four-month prison sentence. The Associated Press reported the hearing outcome and the positions taken by prosecutors and the defense.
Zhao apologized in court. The Associated Press reported him saying: “I failed here,” Zhao told the court Tuesday. “I deeply regret my failure, and I am sorry.”
What was Zhao’s charge?
Zhao pleaded guilty on November 21, 2023, to willfully violating the Bank Secrecy Act (BSA). The offense concerned his causing Binance to fail to implement an effective anti-money-laundering program. The U.S. Department of Justice described his plea as an individual BSA offense, not a personal conviction for Binance’s separate corporate charges.
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The Justice Department’s case announcement and Attorney General Merrick B. Garland’s remarks on November 21, 2023 identify the plea and the court where Zhao entered it.
Why did the parties request different sentences?
Federal prosecutors asked Judge Jones to impose 36 months in prison. Zhao’s lawyers argued that prison was unnecessary and sought probation. The judge instead imposed four months.
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| Position or outcome | Sentence |
|---|---|
| Federal prosecutors’ request | 36 months in prison, as reported by the Associated Press. |
| Defense request | Probation, as reported by the Associated Press. |
| Sentence imposed | Four months in prison, as reported by the Associated Press. |
The available accounts establish the requests and the sentence, but do not provide a complete transcript or the court’s full sentencing findings. They therefore do not support attributing a detailed explanation for Judge Jones’s decision to him.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How was Binance’s corporate case different?
Binance Holdings Limited’s guilty pleas and corporate resolution were separate from Zhao’s individual sentence. The Justice Department said the company agreed to pay $4.3 billion in penalties and undertake compliance remediation and enhancement, including an independent monitor. That corporate amount was not Zhao’s sentence or a fine imposed on him personally.
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The Justice Department’s announcement of the Binance and Zhao resolution distinguishes the company’s corporate penalties and obligations from Zhao’s plea.
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