How much prison time could Changpeng Zhao (CZ) be looking at?

[BNBEffect]

I read the Forbes article "Tai Chi" documents and see that Binance is now trying to sue Forbes for the article.   I also watched the Binance Effect video on youtube as a follow up.

It seems like it could make sense, but I think Binance may actually be guilty if they are now going to sue Forbes over an article.

How much prison time is Changpeng Zhao looking at?   USA could charge criminals for money laundering under Patriot Act if they tie Binance and it's companies to it.

[BNBEffect]

Here are the articles in question in case people aren't familiar

Forbes Article: https://www.forbes.com/sites/michaeldelcastillo/2020/10/29/leaked-tai-chi-document-reveals-binances-elaborate-scheme-to-evade-bitcoin-regulators/?sh=597eb6e82a92

Binance Effect Video: https://www.youtube.com/watch?v=2kT-4UhWzaM

Binance Sues Forbes over article: https://www.coindesk.com/binance-sues-forbes-for-defamation

[buwaytress]

Prison? Nah. A hefty fine at most, maybe even a business suspension for a period, but that's also only if it gets proven beyond reasonable doubt etc etc. They probably have the finest tax lawyers on their side.

As for their litigation against Forbes? They failed to find any grounds when they sued a crypto outlet (The Block I believe) last year, they'll fail to find any with a Wall Street ally. The editors are backing the story too, so the evidence was sound enough to publish those docs.

Finally, Forbes, something worthwhile eh?

[Husires]

There are many things that Changpeng Zhao (CZ) have tried to hide over the past years and have not succeeded in that. They are trying to hide themselves and their identities and many of their headquarters are not registered in an inch.
They try not to comply with the regulatory restrictions in many countries, yet they do not care about the privacy of individuals and exploit this to request documents and proof of identity.

I do not think that he will stay in prison for a long time, I do not know if his country will hand him over to be tried in the United States.

[BNBEffect]

Prison? Nah. A hefty fine at most, maybe even a business suspension for a period, but that's also only if it gets proven beyond reasonable doubt etc etc. They probably have the finest tax lawyers on their side.

As for their litigation against Forbes? They failed to find any grounds when they sued a crypto outlet (The Block I believe) last year, they'll fail to find any with a Wall Street ally. The editors are backing the story too, so the evidence was sound enough to publish those docs.

Finally, Forbes, something worthwhile eh?

I would think the same, but there is talk of money laundering.   The second any US firm connects Binance to terror unit its over.  USA does not take kindly to those who launder funds and the Patriot Act defines this....

Penalties were increased to 20 years' imprisonment.[89] Money laundering "unlawful activities" was expanded to include the provision of material support or resources to designated foreign terrorist organizations.[90]

20 years is a long time for CZ

[stompix]

As for their litigation against Forbes? They failed to find any grounds when they sued a crypto outlet (The Block I believe) last year, they'll fail to find any with a Wall Street ally. The editors are backing the story too, so the evidence was sound enough to publish those docs.

Yeah right, CZ and lawsuits. He was all outraged and threatening Nikkei with lawsuits for misinformation while packing his bags, not a word the second day and he thinks the people at Forbes will even blink at his threats? His big mouth is going to be his downfall, he isn't realizing in what position he is right now, an exchange that operates from nowhere, with no license and the ripe target for any country that needs to settle some balances.
What happened to Star Xu should have been a wake-up call for him but guess not.

I do not think that he will stay in prison for a long time, I do not know if his country will hand him over to be tried in the United States.

You know that the US has a habit of taking people into custody, not asking others to hand them over  

[AmoreJaz]

Prison? Nah. A hefty fine at most, maybe even a business suspension for a period, but that's also only if it gets proven beyond reasonable doubt etc etc. They probably have the finest tax lawyers on their side.

As for their litigation against Forbes? They failed to find any grounds when they sued a crypto outlet (The Block I believe) last year, they'll fail to find any with a Wall Street ally. The editors are backing the story too, so the evidence was sound enough to publish those docs.

Finally, Forbes, something worthwhile eh?

i dont think the situation will go far this way -imprisonment of CZ. before it happens, definitely his lawyers already found a way how to attack this situation. yeah, hefty fine more then likely. but dont think imprisonment will be the situation here.
but to what extent will this case be pushed thru? even if they have strong evidence, this will go for years in litigation. that is, if the suing party will not settle or abandon the case. dont underestimate that CZ's team is not doing their job to cover their tracks...

[cryptoaddictchie]

I do not think that he will stay in prison for a long time, I do not know if his country will hand him over to be tried in the United States.

Thats next to impossible. CZ is a big player on crypto industry and we all knew that its gonna be tons of big people before a guy like him can be apprehended and go to jail.

I like the article it shows that there are really dark moments on every famous personality. Well Im not favor with what happened even I'm a Binance trader. I like his platform but if this issue has been proven then necessary measure should be apply. But with a rich guy like him this is probably not an issue for him and their team.

[cryptomaniac_xxx]

Prison? Nah. A hefty fine at most, maybe even a business suspension for a period, but that's also only if it gets proven beyond reasonable doubt etc etc. They probably have the finest tax lawyers on their side.

As for their litigation against Forbes? They failed to find any grounds when they sued a crypto outlet (The Block I believe) last year, they'll fail to find any with a Wall Street ally. The editors are backing the story too, so the evidence was sound enough to publish those docs.

Finally, Forbes, something worthwhile eh?

i dont think the situation will go far this way -imprisonment of CZ. before it happens, definitely his lawyers already found a way how to attack this situation. yeah, hefty fine more then likely. but dont think imprisonment will be the situation here.
but to what extent will this case be pushed thru? even if they have strong evidence, this will go for years in litigation. that is, if the suing party will not settle or abandon the case. dont underestimate that CZ's team is not doing their job to cover their tracks...

Yeah, I agree just two party trying to argue and prove who's right or who's wrong here. And this could be dismiss immediately with no consequences at all. Just CZ trying to bully a bully, Lol. Not happening, fines, suspensions maybe but that its. And are the two parties willing to be drag? Lawyers are just going to make money out of it.

[buwaytress]

I would think the same, but there is talk of money laundering.   The second any US firm connects Binance to terror unit its over.  USA does not take kindly to those who launder funds and the Patriot Act defines this....

Don't think it'll get that far with new regime in place, but we've all been surprised before. It'll be a hugely unpopular move...

Yeah right, CZ and lawsuits. He was all outraged and threatening Nikkei with lawsuits for misinformation while packing his bags, not a word the second day and he thinks the people at Forbes will even blink at his threats? His big mouth is going to be his downfall, he isn't realizing in what position he is right now, an exchange that operates from nowhere, with no license and the ripe target for any country that needs to settle some balances.
What happened to Star Xu should have been a wake-up call for him but guess not.

Yeah, and I don't think there is any other place to run now. Packed from HK to Japan, and then to Malta, he's already withdrawn recently from Africa so that's a no go. LatAm might be the only place left to find refuge but they'll want to parlay nicely with big brother in the north. Not the worst person CZ, but he has been racking up points on the annoying-o-meter. Guys like that don't do wake up calls.

[so98nn]

[...]
It seems like it could make sense, but I think Binance may actually be guilty if they are now going to sue Forbes over an article.
[...]

I don't think it's a small allegation and it is perfect to sue them for an article because it's what people read and its diverts the minds of people. A small error in writing could make it viral and change the destiny of everything related to that projects. Now lets agree that Binance is no linger small company but it's big picture big management team. No one would tolerate such fingering without any in-depth analysis.

They have Standard Operating Procedure, yes, and they have to follow it. More or less forbes is big entity and it could influence wide population in decision making process about the binance.

In financial world this could cause loss of finances for sure.

[SquallLeonhart]

I believe it is mostly just a scare tactic and nothing more. Forbes is known to be friends with many rich people and politicians so I assume they probably shared this information regarding the regulations and Binance from some high level source, from FBI or CIA or anything remotely like that who got their hands on information regarding this but Binance is something they want to keep in USA and probably pay taxes and not scare them away.

So, instead of sending some cease and desist letter and warning them to leave the nation for their behavior or even putting CZ in jail which I am pretty sure won't happen, they just decided that they want to scare them with Forbes and Binance probably got scared their tactic was figured out and they went back to regular business without any tricks.