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Brazil’s Congress puts Binance CEO CZ in crosshairs for indictment

Published 10/10/2023, 09:35 PM
Updated 10/10/2023, 11:20 PM
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A Brazilian congressional committee has recommended local law enforcement move to indict Binance CEO Changpeng “CZ” and three other Binance executives following a probe into financial pyramid schemes in Brazil.

On Oct. 10 the committee released a 500-page final report accusing Zhao and local Binance executives Daniel Mangabeira, Guilherme Haddad Nazar and Thiago Carvalho of fraudulent management practices, operating without sufficient authorization and offering securities trading without authorization.

Binance CEO Chanpeng Zhao stands accused of multiple financial crimes. Source: Chamber of Deputies of Brazil

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