Changpeng Zhao was not allowed to leave the United States and had to surrender his passport

A US judge has imposed a travel ban on former Binance CEO Changpeng Zhao. It wasn't that long ago Jao Crypto is still seen as the most powerful man in the world, but now he will soon be on trial for violating anti-money laundering laws and will not be allowed to leave the United States without a judge's permission.

In fact, the billionaire had to surrender his passport and was not allowed to apply for new travel documents. The judge fears that only then will he flee to a country that does not have an extradition treaty.

Judge Changpeng imposed a travel ban on Zhao

Zhao pleaded guilty in November to violating anti-money laundering laws and resigned as finance chief at the same time. He was released on $175 million bond, but the U.S. attorney's office filed a plea deal last month with stricter conditions.

In the new decision to change the bail, Judges Judge Jones ordered Zhao to surrender his Canadian passport to a third party. “This third party must maintain a Canadian passport and accompany the suspect on any trip that requires identification.”

In addition, Zhao must hand over all of his current and expired passports and travel documents to his lawyers. They can only retrieve documents with the permission of the court or with pre-trial services. “The suspect shall not apply for or obtain a new passport or travel document from any country without the permission of the court.”

What a story Changpeng Zhao's life turns out to be. Finance rose like a comet after its launch in 2017 and now it has fallen like a stone. Although he has earned billions of dollars through adventure.

Flight risk

In court documents filed in November, prosecutors explained why they consider Zhao a flight risk.

“Zhao is not a US citizen, but a citizen of the United Arab Emirates (UAE), with significant assets outside the US, minimal ties to the US and a resident of a country with no extradition treaty with the US, who poses a serious flight risk.

He is therefore required to reside in the continental United States pending sentencing.

What do you think, will Changpeng Zhao really go to jail? Then he could meet his great former rival, Sam Bankman-Fried.