YEREVAN (CoinChapter.com) — Judge María Ángeles Velázquez oversees a Criminal Accusation in Spain as she examines a claim against Binance. She believes there are “sufficient criminal motives.”
Plaintiff “JL” insists Binance misappropriated his €67,550 investment. He says he never gained proper access to his funds. This complaint dates back to 2021, but formal documents emerged in 2023.
The judge gave JL ten days to present stronger evidence. If he fails to do so, the court may dismiss the matter. Court officials have not shared further details, citing the ongoing process.
Accusation of Withholding €67,550
JL maintains that Binance held his €67,550, preventing any withdrawal. He mentions repeated attempts to retrieve these funds. He claims he was never given a working access code.
Legal records show he filed a complaint after unsuccessful negotiations. Judge Velázquez found his statements plausible enough to request an indictment. Observers note that a dismissal could happen if evidence is lacking.
JL’s Legal Action in Spain
JL’s attorney argues that Binance offered no solutions. He accuses the platform of negligence and improper fund handling. He also points to difficulties contacting any support channels.
Reports say JL has wanted to resolve this matter without going to trial. However, he felt compelled to seek a legal route when regular attempts failed. This complaint might set a precedent if it proceeds.
The court’s reaction is cautious. Officials want to see substantial proof before pursuing a formal indictment. Meanwhile, JL is racing to meet the court’s deadline.
Binance Under Pressure from France for Money Laundering
In addition, French authorities have recently opened another probe involving Binance. They suspect possible money laundering on the exchange. This separate inquiry in France adds extra tension to cases involving the crypto exchange.
Investigators in France have begun to examine suspicious transactions linked to Binance. They have started to compare data from international sources. News outlets have cited ongoing collaboration with financial crime units.
Officials in France have not released complete findings. They remain focused on gathering detailed evidence. Notably, the timing of this new report has attracted attention in multiple jurisdictions.
Changpeng Zhao Faces Court Request
Former Binance CEO Changpeng Zhao, known as CZ, allegedly ignored a Spanish Court Request. He was asked to testify about JL’s misappropriation claims. Sources say he neither appeared nor responded.
CZ has encountered legal questions before. In 2022, he was cited in another misappropriation case. That dispute was apparently settled out of court.
CZ retains a significant public profile, despite having resigned as CEO of Binance in 2023 during his own money laundering case.
Multiple Legal Challenges and Market Manipulation Claims for Binance
Binance is also facing a Class Action Lawsuit in the United States. Critics allege Market Manipulation and other violations. Formal charges vary, but global scrutiny is increasing.
Spanish lawyer Cris Carrascosa commented on the current situation.
“Many lawyers have clients with this same case,” she wrote. She also noted that “The exchange is blocking €67,000 and no one assists the user.”
Binance continues to operate in several regions. However, lawsuits and official probes may affect its credibility. In the end, the fate of JL’s complaint will depend on the evidence delivered to Judge Velázquez.
