The Globe and Mail reports in its Monday, Nov. 4, edition that last week, Canadian cryptocurrency billionaire Changpeng Zhao made his first public appearance after serving four months in a U.S. prison. The Globe's Ethan Lou writes that Mr. Zhao discussed the money-laundering issues of Toronto-Dominion Bank, noting that his company, Binance, faced a similar situation and was fined $4.3-billion (U.S.) for violating U.S. anti-money-laundering laws. Mr. Zhao said, "I'm the only one who went to jail for this in U.S. history." TD recently pleaded guilty to money laundering conspiracy and faced fines, but no executives were personally charged. Mr. Zhao, who accepted a plea deal that restricts his comments, expressed frustration, questioning, "Why did I have to go to prison while these TD bankers did not?" Last week, Massachusetts Senator Elizabeth Warren said in a letter to the U.S. Department of Justice, "Until and unless those executives who presided over TD's institutionalized money laundering are held accountable, banks will continue to factor enforcement fines into the cost of doing business, rather than approaching compliance with our money laundering laws with the seriousness it requires."
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