The 6 month court battle of former Binance CEO CZ comes to an end following the court's final verdict on April 30th, 2023. CZ was sentenced to 4month in prison by Judge Richard Jones for failure to maintain an effective Anti-money laundering program.

DOJ's recommendation of a 3 year jail term for CZ was declined by the Judge

"Your recommendation is twice sentencing guidelines; would that not lead to sentencing disparity?" the Judge said.

"No single defendant has been responsible for so much; "We don't believe it would be a sentencing disparity ... the disparity is in the magnitude of the conduct" DOJ attorney responded.

He maintained that if CZ avoids incarceration despite knowingly breaking U.S. laws, it could set a precedent where others might similarly evade punishment. This could undermine the effectiveness of the Bank Secrecy Act (BSA) and its enforcement.

The Judge reproved CZ's failure to establish a standard AML program, which created opportunities for money laundering activities, including those associated with drug trafficking and terrorism. However, the judge emphasized the need for the court to impose a sentence that is both appropriate and reasonable, stating, 'There’s no evidence that the defendant was ever informed of illegal activity.'"

Additionally, the judge acknowledged that he had reviewed the 161 letters of appeal submitted by CZ's family and friends. He also recognized CZ's efforts to cooperate with the law by willingly surrendering himself and satisfying the $50 million fine.

In conclusion, the judge gave a 4-month sentence, and recommended that CZ be housed at the Federal Detention Center (FDC) SeaTac. CZ is required to surrender himself for incarceration at a date that will be determined by the Probation/Pretrial Services Office.

paper work https://storage.courtlistener.com/recap/gov.uscourts.wawd.328570/gov.uscourts.wawd.328570.90.0.pdf

News Source: Nikhilesh De, CoinDesk Reporter