Nigerian Court Delays Binance Executive Trial to May 17 for Document Review

Nigerian Court Delays Binance Executive Trial to May 17 for Document Review

A Nigerian court has postponed the trial involving cryptocurrency exchange Binance and two of its executives, originally scheduled for May 2, to May 17. The postponement came after the judge granted additional time for the legal team to thoroughly review the extensive documentation related to the case.

According to Reuters, the trial delay was prompted by the fact that Binance’s lawyer had not been served with the necessary documents to proceed with the money laundering case involving the exchange, compliance officer Tigran Gambaryan, and regional manager Nadeem Anjarwalla. Subsequently, the lawyer received the documents in court, leading to the adjournment of the trial to accommodate the review process ahead of the new date.

The charges against Binance and its executives include allegations of money laundering and conducting specialized financial activities without the requisite license.

Earlier in February, Nigerian law enforcement authorities detained Gambaryan and Anjarwalla, with Anjarwalla later escaping custody and fleeing the country illegally in March.

In April, the court dismissed Gambaryan’s defense argument, which contended that he should not be held accountable for Binance’s operations in Nigeria. The defense cited educational training conducted by Gambaryan for local officials as a representative of the exchange. Despite denying guilt and alleging a violation of his rights, Gambaryan was remanded to a high-security detention center following the proceedings. He faces accusations of tax evasion and laundering funds amounting to $35 million.

The trial’s postponement underscores the complexity and gravity of the legal proceedings against Binance and its executives in Nigeria, highlighting the meticulous review process required to ensure fair adjudication in the case.

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