_binance-founder-sentenced-to-4-months-in-prison-for-money-laundering-charges.jpg "Binance Founder Sentenced to 4 Months in Prison for Money Laundering Charges from money por Video Screenshot Preview")
GalleryPlay Video:
(Note: The default playback of the video is HD VERSION. If your browser is buffering the video slowly, please play the REGULAR MP4 VERSION or Open The Video below for better experience. Thank you!)
⏲ Duration: 0:37
👁 View: 480K times
✓ Published: 02-May-2024
👁 View: 480K times
✓ Published: 02-May-2024
Description:
Changpeng Zhao, the founder of cryptocurrency exchange Binance, was sentenced to 4 months in prison for money laundering charges. He pleaded guilty last year after Binance paid over $4 billion in fines and penalties for anti-money laundering violations and other charges. Zhao apologized and said it would not happen again. US authorities previously said Binance allowed criminal transactions like child abuse and terrorism financing. Binance lacked protocols to identify or report money-laundering transactions, and an internal communication revealed employees knew this oversight attracted criminals.
Changpeng Zhao, the founder of cryptocurrency exchange Binance, was sentenced to 4 months in prison for money laundering charges. He pleaded guilty last year after Binance paid over $4 billion in fines and penalties for anti-money laundering violations and other charges. Zhao apologized and said it would not happen again. US authorities previously said Binance allowed criminal transactions like child abuse and terrorism financing. Binance lacked protocols to identify or report money-laundering transactions, and an internal communication revealed employees knew this oversight attracted criminals.
Share with your friends:
Whatsapp | Viber | Telegram | Line | SMS
Email | Twitter | Reddit | Tumblr | Pinterest
Related Videos
_tips-on-spotting-a-scam-and-how-to-get-your-money-back.webp "In light of the rising cost of living crisis, being sure you’re safe from scams is more important than ever and there are a few helpful steps to keep your money, data and private information secure.")
_inside-a-3646-million-renewable-energy-swindle.webp "Rhino Onward International, or ROI as it called itself, launched in 2022 with some big promises. The renewables development firm claimed that its “proprietary process and technology” put it in position “to assume the leading role in Green Hydrogen production.” The company said it was building a green hydrogen plant in Arizona that would be worth about $530 million within 5 years, according to marketing materials it shared with investors.<br/><br/>ROI raised $31 million from over 200 investors but apparently only invested $200,000 in the business; the firm’s promoters Paul Croft and J.D. Frost diverted the rest of the investors’ money to themselves and entities they control, according to an investor lawsuit filed in Illinois last month, which cited bank records obtained through subpoenas. Beginning in 2021 until last year, Croft, a 42-year-old entrepreneur living in Chicago, and Frost, a 40-year-old accountant based in Chattanooga, Tennessee, raised approximately $46 million from a series of phony renewables investment schemes, which the pair used to live extravagantly, pay employees at their tax advisory business, pay down short-term loans and even lend money to embattled professional hockey player Robin Lehner, according to allegations in lawsuits, bankruptcy filings, former investors and ex-employees of Croft’s and Frost’s businesses who spoke with Forbes on the record, and others with knowledge of the matter who spoke on the condition of anonymity in order to speak about sensitive information.<br/><br/>0:00 Introduction<br/>0:28 The Founding Of Rhino Onward International<br/>3:34 Who Was Scammed By Croft And Frost?<br/>6:11 Who Are Croft And Frost?<br/>9:21 When Did Investors Figure Out The Scam?<br/>12:17 Embellishing Wealth And Origin Stories<br/>14:26 What's Next?<br/><br/>Read the full story on Forbes: https://www.forbes.com/sites/johnhyatt/2024/04/23/anatomy-of-a-46-million-renewable-energy-swindle/?sh=767c07c23c4b<br/><br/>Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/>Stay Connected<br/>Forbes newsletters: https://newsletters.editorial.forbes.com<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com<br/><br/>Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.")
_trees-that-falls-into-your-neighbor39s-boundaries-who-is-responsible.webp "Whose Insurance Pays and how to be a good neighbor when your tree drops by uninvited?")
_hunter-biden-demands-fox-news-to-remove-explicit-images-alleges-defamation-violation-of-39revenge-porn39-laws-report.webp "According to a CNN report published on Friday, a letter from Hunter Biden’s legal team accuses Fox News and FOX Corp of conspiracy to defame. It seeks corrections and retractions on air and in online articles related to claims that President Biden and his son were involved in a bribery scheme abroad.")
⏲ 0:48 👁 880K
_how-to-buy-a-small-business-with-no-money-down.webp "Chelsea Mandel and her firm Ascension Advisory are on a mission to help small business buyers borrow a $17 billion a year tactic from private equity’s playbook known as sales leasebacks. But finding the right deal is nearly impossible.<br/><br/>Read the full story on Forbes: https://www.forbes.com/sites/brandonkochkodin/2024/04/22/how-to-buy-a-small-business-with-no-money-down/?sh=30bace386bc8<br/><br/>Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/>Stay Connected<br/>Forbes newsletters: https://newsletters.editorial.forbes.com<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com<br/><br/>Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.")
_trump-vs-biden-new-poll-reveals-shift-in-2024-race-as-public-divided-on-presidents39-legacies.webp "In a recent CNN poll, former President Donald Trump is found to be leading President Joe Biden in the prospective 2024 presidential race, with public opinions about their presidencies varying significantly.")
⏲ 1:1 👁 75M
_how-do-these-soundcore-headphones-compare-over-airpods-max.webp "Are AirPods Max still among the best headphones with active noise cancellation? Here’s how Apple’s $549 cans compare to a more budget-friendly choice, the $150 Soundcore Space Q45. From design and features to sound performance and battery life, let’s break down the differences between our reviews of both headphones to see how much price matters.")
_reasons-why-a-pension-lump-sum-is-better-than-an-annuity-payment.webp "Lump sum or annuity payments? Single-life benefits or joint-and-survivor benefits? Once you explore the risks and hidden costs, the right pension answer for you could come down to control.")
_tips-on-spotting-a-scam-and-how-to-get-your-money-back.jpg)
_inside-a-3646-million-renewable-energy-swindle.jpg)
_trees-that-falls-into-your-neighbor39s-boundaries-who-is-responsible.jpg)
_hunter-biden-demands-fox-news-to-remove-explicit-images-alleges-defamation-violation-of-39revenge-porn39-laws-report.jpg)
_how-to-buy-a-small-business-with-no-money-down.jpg)
_trump-vs-biden-new-poll-reveals-shift-in-2024-race-as-public-divided-on-presidents39-legacies.jpg)
_how-do-these-soundcore-headphones-compare-over-airpods-max.jpg)
_reasons-why-a-pension-lump-sum-is-better-than-an-annuity-payment.jpg)
![[+]](/images/menu.gif){kind=small}