US Seeks More than $4 Billion From Binance To End Criminal Case 35
The US Justice Department is seeking more than $4 billion from Binance as part of a proposed resolution of a years-long investigation into the world's largest cryptocurrency exchange. From a report: Negotiations between the Justice Department and Binance include the possibility that its founder Changpeng Zhao would face criminal charges in the US under an agreement to resolve the probe into alleged money laundering, bank fraud and sanctions violations, according to people familiar with the discussions. Zhao, also known as "CZ," is residing in the United Arab Emirates, which doesn't have an extradition treaty with the US, but that doesn't prevent him from coming voluntarily. An announcement could come as soon as the end of the month, though the situation remains fluid, according to the people, who asked not to be named discussing a confidential matter.
Run (Score:3)
I don't think paying the US $4 billion is going to solve his problems. And UAE is not far enough from the West to save his ass.
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I don't think paying the US $4 billion is going to solve his problems. And UAE is not far enough from the West to save his ass.
It does mean he pretty much wont be able to leave it. Land in any country with an extradition treaty and his arse will be locked up before you can say "rendition".
Also he's entirely at the mercy of the Emirati government, which isn't known for it's love of foreigners, tolerance, fairness in matters of justice or even ability to resist indulging whims.
But he's made his bed and I feel little sympathy for him... Wait, I think I feel a bit now... Urngh, Nope, just needed a fart. Moving on.
Wait, you can do that? (Score:2, Insightful)
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This is America. Of course you can do that.
If armed force or money can't solve it, America hasn't heard of it.
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Let's hope they cannot pay....
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You can just pay money to end a criminal case? Cool!
"Just give us $4 billion and you can keep doing your dodgy shit, k?"
Its like a massive protection racket.
"Nice country you 'ave there. Be a shame if somefink were to... 'appen to it"
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Let's hope that a guilty plea would go along with that. The plea plus $4 billion would be good enough. As long as having that on CZ's record would prevent him from working in the finance business in the future.
We really need to keep the prisons available for violent felons.
no justice (Score:1)
So if you are rich and you break the law, you can just pay a fine and walk away? That is not justice.
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And I am certain this _NEVER_ happens under communism or socialism for that matter......
Who knows? (Score:3)
In about 6-8 years the baby boomers will be too old to vote. The boomers were massive recipients of sociali
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nobody's tried it. All attempts to transition to a Star Trek style socialism have been met with extreme violence by existing ruling classes. To combat this to people attempting the transition turned to people who are good at violence to help them win. The problem with that is people who are good at violence aren't so good at giving up power after the revolution, so they keep ending in dictatorship.
Also, effective socialism can't just rely on people being nice to each other and acting for the greater good. They have to be made to do that. So you get a lot of authoritarianism from the left, sadly even more than from the right.
Sometimes it seems like more attacks on freedom from expression come from the left these days :(
As if the Marxist idea of "Find the freedom that enables oppression and bring it under control" now sees 'freedom of expression' as the oppression-enabler today.
I don't think the problem is "people" (Score:2)
The problem we have is a handful of people can exploit quirks in our psychology to set us on each other. We can counteract that by teaching kids critical thinking and claims evaluation skills, but it's hard to do that
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not as a whole. "People" (meaning the large mass of humanity) are, in aggregate, good. It's an evolutionary advantage. Despite what some religious sects tells us we're not all sinners one pray away from raping and pillaging (also Genesis is a parable and snakes don't talk but I digress...)
The problem we have is a handful of people can exploit quirks in our psychology to set us on each other. We can counteract that by teaching kids critical thinking and claims evaluation skills, but it's hard to do that. Not because it's hard to teach, but because that ruling class isn't so dumb as to let you take their weapons away.
I think that religious people are, if anything, typically less moral...
https://www.youtube.com/watch?... [youtube.com]
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As a late boomer, I'm pretty sure I won't be too old to vote 6 to 8 years from now. Barring getting hit by a bus or getting terminal cancer (can happen to anyone), I just might be voting 16 to 18 years from now. And I've never voted the way you accuse boomers of voting, let alone had the government subsidize any of my loans or mandate higher pay for me.
Maybe you won't (Score:2)
Also, well, a lot of your compatriots aren't getting vaccinated against COVID. Sure, it won't kill them thanks to anti-virials, but the hospital stay will end with permanent heart & lung damage. So a bad day turns into a stroke, a stroke a heart attack and a heart attack ends with, well....
As for you never voting the way I accused you of, congrats, you just disc
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You do realize that all the wealth the boomers have is going to be passed on to the next generation who will continue the same policies.
It won't (Score:2)
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It's a different regulatory set up - in the US agencies enforcing regulation in general seem to only be able to rely on civil law, meaning suing someone for infringing the regulations.
In the UK, many agencies enforcing regulation are backed up with essentially criminal law statutes, allowing them to carry out criminal prosecutions and seek jail time.
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Indeed. That is called corruption.
make him do an lot of community service as well! (Score:2)
make him do an lot of community service as well!
Try that next time you're on the hook (Score:1)
Steal a million, then offer to pay half of it if they drop the case.
Funniest headline today (Score:1)
CZ to pay 6 BILLION DOLLARS and COME TO THE US TO BE CRIMINALLY PROSECUTED
Said nobody so stupid except for the US DoJ ever.
In an unquoted remark, CZ is reputed to have laughed his ass off and said "No, I think I'll keep my 6 BILLION and FREEDOM, kthxbye."
Re: Funniest headline today (Score:2)
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CZ to pay 6 BILLION DOLLARS and COME TO THE US TO BE CRIMINALLY PROSECUTED
Said nobody so stupid except for the US DoJ ever.
In an unquoted remark, CZ is reputed to have laughed his ass off and said "No, I think I'll keep my 6 BILLION and FREEDOM, kthxbye."
For a country that touts freedom constantly and loudly, they sure don't seem to actually like it in practice...
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The US DoJ attitude to non-Americans is like the mafia taking protection bribes and still setting the building on fire.
While small-change by recent DoJ standards, it's a large amount; for less than 6 years of malfeasance, for only 13 charges, for no customer redress (compensation) and for a business where the core service earned (not profit) only 12 billion dollars,
Interesting (Score:2)
Nobody offered a deal like that to Bankman-Fried.
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He got off without being charged with a whole heap of extra charges, because they hurried the extradition. Some were related to campaign finance violations.
And if he pays $4B... (Score:3)
If he pays the asking price, where did the money come from? A long line of fools holding shitcoins. That's where.
There is money to be made in crypto. Your odds of success are much better if you happen to be a confidence man or woman.