WRITTEN BY: CHIOMA MADONNA NDUKWU
Changpeng Zhao, the founder of Binance, has been sentenced to four months in prison for violating US anti-money laundering and sanctions laws.
Despite facing a potential three-year term, he became the world’s richest prisoner with an estimated personal fortune of $43 billion after the verdict.
The sentence marks a significant downfall for Zhao, once the head of the world’s largest cryptocurrency exchange, as the court considered the positive aspects of his past behavior. Prosecutors alleged that Zhao allowed fraudulent activities to occur to attract users and enrich himself.
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