The Brazilian Congress is considering charging Binance CEO CZ.
A congressional committee has recommended that Changpeng Zhao and three local Binance executives be indicted for fraud and other financial crimes. A congressional committee in Brazil has made a strong recommendation to local law enforcement, urging them to consider indicting Changpeng “CZ” Zhao, the CEO of Binance, and three other high-ranking Binance executives. This recommendation follows an extensive investigation into financial pyramid schemes operating within Brazil. On the 10th of October, the committee unveiled a comprehensive 500-page final report that levels serious allegations against Zhao and the local Binance executives, specifically Daniel Mangabeira, Guilherme Haddad Nazar, and Thiago Carvalho. The accusations revolve around fraudulent management practices, conducting business without the necessary authorization, and engaging in securities trading without the requisite approvals. Within the report, the committee, led by Deputy Ricardo Silva, claims that Bina...