11/20/2023 0 Comments Binance news ussanctions, and plotted to evade regulators in the United States and elsewhere.īinance has disputed the articles, calling the illicit-fund calculations inaccurate and the descriptions of its compliance controls "outdated." The exchange has said it is "driving higher industry standards" and seeking to "further improve our ability to detect illegal crypto activity on our platform." The reporting showed that Binance kept weak anti-money laundering controls, processed over $10 billion in payments for criminals and companies seeking to evade U.S. Reuters has investigated Binance's financial crime compliance over the course of 2022. He enforced strict secrecy rules on employees, telling them to use email as little as possible and to communicate using encrypted messaging services, according to company messages that Reuters has previously reported. government agency that was investigating Binance. He instigated a recruitment spree last year that led to the hiring of officials from the Internal Revenue Service's Criminal Investigation division, the U.S. The new reporting shows that the case has shadowed Binance for most of its five years in existence, shaping Zhao's management of the company while he drove its explosive growth around the world. Reuters reported previously that in 2020, prosecutors requested extensive internal records from Binance about its anti-money laundering checks, along with communications involving Zhao and other executives. Ultimately, the Justice Department could bring indictments against Binance and its executives, negotiate a settlement, or close the case without taking any action at all. No final charging decisions have been made, though prosecutors consider Zhao and some other executives to be subjects of the investigation, one source familiar with the situation said. The charges under investigation are unlicensed money transmission, money laundering conspiracy and criminal sanctions violations, the four people said. Others have argued taking time to review more evidence, the sources said.Ī Binance spokesperson said, "We don't have any insight into the inner workings of the US Justice Department, nor would it be appropriate for us to comment if we did." The Justice Department declined to comment. Some of the at least half dozen federal prosecutors involved in the case believe the evidence already gathered justifies moving aggressively against the exchange and filing criminal charges against individual executives including founder Changpeng Zhao, said two of the sources. anti-money laundering laws and sanctions, these people said. The investigation began in 2018 and is focused on Binance's compliance with U.S. Department of Justice prosecutors are delaying the conclusion of a long-running criminal investigation into the world's largest cryptocurrency exchange Binance, four people familiar with the matter have told Reuters. WASHINGTON, Dec 12 (Reuters) - Splits between U.S. Binance says it has no insight into the "inner workings of the US Justice Department".Binance is under investigation for possible money laundering and criminal sanctions violations.DOJ officials have discussed possible plea deals with Binance's attorneys.Some DOJ prosecutors believe evidence justifies filing charges against executives including CEO Zhao.A gun was found near Carmack-Belton's body, but investigators have said there is no evidence that the teen ever directed the firearm at Rick Chow or his son, who together had pursued Carmack-Belton on a chase that stretched about 500 feet (152 meters) past their family's Xpress Mart Shell station in Columbia.Ī prosecutor on Monday said investigators need to search computers and other electronics from Chow and his family to find the store's employee manual and other documents that could potentially reveal a pattern of behavior in how Chow normally dealt with shoplifters and how Carmack-Belton was treated differently.īut Chow's lawyer said his family already turned over what authorities wanted without a warrant and argued that investigators are now looking for items they can't legally have.Īccording to news outlets, defense attorney Jack Swerling said investigators “have no business looking at that stuff,” including checks, bank accounts and “different types of information that are used for the operation of a business. A lawyer for a store owner in South Carolina facing a murder charge after police said he chased and shot a Black 14-year-old who he had falsely accused of stealing water has asked a judge to stop a search warrant for his business records.Ĭyrus Carmack-Belton was fatally shot in the back on May 28, a killing that sent waves of anguish and grief through the African American community in Richland County, where nearly half the population is Black.
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