According to ex-SEC official John Reed Stark, ChangPeng Zhao (CZ), the former head of Binance, might be looking at a maximum prison term of 10 years.
The U.S. Department of Justice (DOJ) has charged Changpeng Zhao (CZ) and has reportedly admitted guilt for violating the Bank Secrecy Act.
A recent court document from the DOJ discloses that the prosecution is contemplating seeking the maximum 10-year sentence for CZ. This comes as a surprise, as legal analysts had initially anticipated a considerably shorter sentence ranging from 12 to 18 months.
Also Read: CZ’s Legal Strategy Seeks Home Detention, Not Jail Time
