Former Binance CEO Changpeng "CZ" Zhao has been sentenced to four months in prison for violating US money laundering laws, CNBC reported on Tuesday.
Judge Richard Jones of the US District Court for the Western District of Washington handed down the sentence on April 30, following Zhao's guilty plea in November for his role in failing to maintain an effective anti-money laundering (AML) program while he was the CEO of the crypto platform.
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Prosecutors had recommended a three-year prison sentence, while Zhao's defense team requested probation instead.
During the hearing, Judge Jones stated there was no evidence to suggest that Zhao had knowledge of any illegal activity taking place at Binance, countering the prosecution's argument for an enhanced sentence of up to three years.
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