Since there is no extradition treaty between the US and the UAE, the Department of Justice believed that the notorious crypto businessman accused of money laundering could easily escape. But initially Judge Brian Tsuchida met Zhao halfway, allowing Zhao to travel to the UAE but return to the US for sentencing and acceptance of responsibility. The decision was based on a $175 million bond.
Now Judge Jones has rejected the entrepreneur’s plea and said bail is “substantial, but not unprecedented.” Additionally, the court accepted the Justice Department’s arguments regarding Zhao’s possibility of fleeing.
At the same time, the businessman will be able to move freely around the United States while awaiting his decision.
Source: Ferra
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