SEC Can’t Find Binance CEO Changpeng Zhao
The U.S. Securities and Exchange Commission (SEC) is having difficulty locating Binance CEO Changpeng Zhao, and has asked the court to allow alternative service.
The SEC has been attempting to serve a subpoena to Zhao since November 2020, but has been unsuccessful in its attempts. In a filing to the U.S. District Court for the Southern District of New York, the SEC said it has “made diligent efforts to serve Mr. Zhao, including by email, by mail, and through various third-party intermediaries.”
The SEC is now asking the court to allow alternative service, such as by posting the subpoena on a publicly available website or by emailing it to Zhao’s known email addresses. The SEC noted that it has been unable to locate any other contact information for Zhao.
The SEC’s request comes as it continues to investigate Binance’s activities in the U.S. The agency has been looking into whether Binance has been operating in the U.S. without registering with the SEC, and whether it has been offering securities without registering with the agency.
SEC’s Request to the Court
The U.S. Securities and Exchange Commission (SEC) has asked the court to allow it to serve Binance CEO Changpeng Zhao with notice of the lawsuit against him by alternative means, such as email. This request is necessary in order for the SEC to move the case forward.
The SEC has been unable to locate Zhao in order to serve him with the lawsuit, and has asked the court to allow it to serve him with notice of the lawsuit by alternative means. This would allow the case to move forward without Zhao’s physical presence.
The SEC has argued that alternative service is necessary due to the difficulty of locating Zhao, and that it is in the best interest of the court to allow the case to move forward. The SEC has also argued that alternative service would be in the best interest of the public, as it would allow the case to be resolved more quickly.
Reasons for the Request
The SEC has stated that it has been unable to locate Binance CEO Changpeng Zhao despite its best efforts, and that alternative service is necessary in order to ensure that the case is not delayed due to Zhao’s inability to be located. The SEC has not provided any further information as to why they have been unable to locate Zhao, but it is likely that he may have changed his address or is otherwise difficult to locate.
The SEC has requested that the court allow for alternative service of the summons, which would allow the case to move forward even if Zhao cannot be located. This is an important step in ensuring that the case is not delayed due to Zhao’s inability to be located.
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