According to Reuters, the prosecutors made the request in a Tuesday night filing in Seattle federal court.

U.S. prosecutors want the founder and former chief executive of Binance, Changpeng Zhao, to serve three years in prison after he pleaded guilty to violating laws against money laundering.

According to Reuters, the prosecutors made the request in a Tuesday night filing in Seattle federal court.

They argued that sentencing Zhao to twice the maximum 18 months recommended under federal guidelines would reflect the magnitude of his willful violations, and send a message that "the right choice, every time, is to comply with the law."

Lawyers for Zhao requested probation.

U.S. District Judge Richard Jones is expected to sentence Zhao on April 30.

This came after U.S. District Judge, Honorable Richard A. Jones restricted his bond conditions.

The court ordered the businessman to surrender all valid and expired passports, and the documents were to be transferred to someone to be hired by his lawyers who would accompany the Binance founder on all trips where a passport might be needed.

He must also notify the relevant authorities of his movements.

In the case between the U.S. and Zhao as the defendant, the court ruling of March 11, 2024, obtained by SaharaReporters, is as follows: Defendant must remain in the continental United States through the imposition of sentence.

Defendant must notify Pretrial Services before any travel within the continental United States.

Defendant must surrender his current Canadian passport to a third-party custodian employed and supervised by his counsel of record.

The third-party custodian must retain control over that Canadian passport and must accompany Defendant on any travel that requires identification documents.

Defendant must surrender all other current and expired passports and travel documents to his counsel of record, who may return those documents to defendant only with authorization from Pretrial Services or the Court.

Defendant may not apply for or obtain a new passport or travel document from any country without the Courts permission.

In November 2023, Zhao pleaded guilty to criminal charges and violating the Bank Secrecy Act. He subsequently agreed to pay a fine and stepped down as the companys CEO.

Zhao was released on bail of $175 million.

This was part of a $4.3 billion settlement with the Department of Justice, according to court documents.

The plea arrangement with the government followed years of investigation into the dealings of the worlds largest cryptocurrency exchange.

In December, Judge Jones barred Zhao from leaving the U.S. pending a verdict in his case.

In February, the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, said $26 billion passed through Binance Nigeria from unknown sources and users in one year.

The allegation came amid the free fall of the naira and clampdown on Bureaux de Change by President Bola Tinubus administration in an attempt to steady the rapid decline of Nigerias currency, naira.

Cardoso said the government was concerned that certain practices go on that indicate illicit flows going through a number of these entities, and suspicious flows at best.

The Nigerian government later arrested two Binance executives for alleged money laundering “ Tigran Gambaryan, a U.S. citizen and Binance''s head of financial crime compliance, and Nadeem Anjarwalla, a British-Kenyan who is African regional manager for the cryptocurrency trading firm.

Anjarwalla later escaped from detention and fled to Kenya. Meanwhile, their trial has commenced in a Federal High Court in Abuja.

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