Kendall Day led the department’s efforts to combat money laundering, including dealing with charges related to money laundering, deferred prosecution agreement, etc.
Amid its ongoing legal fight with the US Securities and Exchange Commission (SEC), crypto exchange Binance has hired a former white-collar prosecutor of the Department of Justice (DoJ), as per the court filing on Thursday, June 22.
M. Kendall Day, a partner at Gibson Dunn & Crutcher’s Washington DC office, will serve as counsel for Binance in the SEC case. Previously, Day worked for 15 years as the former acting deputy assistant attorney general at the Department of Justice’s Criminal Division, as mentioned in his biography on the Gibson Dunn website.
While at the Department of Justice, Day served as the chief of the Money Laundering and Asset Recovery Section, responsible for overseeing anti-money laundering efforts across the country. This role involved dealing with cases related to money laundering, deferred prosecution agreements, and non-prosecution agreements involving financial institutions, as detailed on the Gibson Dunn website.
Earlier this month, the SEC accused Binance, its CEO Changpeng Zhao, and another exchange owned by Zhao, Binance.US, of mishandling customer funds, misleading investors and regulators, and violating securities rules. The SEC also requested the return of cryptocurrency owned by US customers.
During his time at the Justice Department, Day held the position of chief of the Money Laundering and Asset Recovery Section. In this role, Day had authority across the country to supervise the department’s efforts to combat money laundering, including dealing with charges related to money laundering, deferred prosecution agreements, and non-prosecution agreements involving financial institutions. This information can be found on the Gibson Dunn website.
BinanceUS and the Recent SEC Lawsuit
Earlier this month, the US Securities and Exchange Commission slapped a lawsuit against Binance.US for allegedly violating the securities laws.
Binance, its CEO Changpeng Zhao (CZ), and affiliated exchange Binance.US are facing charges from the SEC for mishandling customer funds, misleading investors and regulators, and breaking securities rules. The SEC is also requesting the return of cryptocurrency owned by customers in the US.
The exchange has been under investigation by several US agencies, including the Department of Justice. Recently, Binance.US reached an agreement with the SEC that prevents Binance Global officials from accessing customer funds. CZ expressed his relief about the agreement in a tweet on June 17.
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