The request of Binance founder Changpeng Zhao to travel to the United Arab Emirates (UAE) for the "hospitalization and surgery" of a person in his life was rejected by a federal judge in Seattle.
CNBC reported that according to a new court filing on Wednesday, Zhao was denied permission to travel by Judge Richard Jones despite offering his Binance equity worth $4.5 billion as security for his return to the United States.
Travel Request of Binance Founder Changpeng Zhao Denied
The legal team of Changpeng Zhao, who goes by "CZ," submitted a letter containing his request to travel to the judge on December 22.
The document highlighted Zhao's intention to travel to Abu Dhabi on January 4 for a duration of one to four weeks so he could be present for the hospitalization, surgical operation, and recovery period of an individual whose name was redacted in a copy of the letter filed Wednesday.
Court records showed that the judge junked Zhao's travel request during a closed hearing held on December 29.
Last month, Richard Jones also dismissed another request to allow the Binance founder to travel to the UAE, saying Zhao's "enormous wealth and property abroad," and his family residing there, with no ties to the US, made him a significant flight risk.
Binance Founder Pleads Guilty
In November, Changpeng Zhao pleaded guilty in federal court in Seattle for failing to maintain an effective anti-money laundering program at Binance, which is recognized as the world's largest cryptocurrency exchange.
Zhao has already stepped down as Binance CEO after his plea and is set to be sentenced on February 23. He has remained free in the US due to a release bond worth $175 million.
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