2024-05-03
In the case against Binance and two employee have been adjourned by a judge in Nigeria until May 17.
The trial of Tigran Gambaryan,a USA citizen and Binance employee who has been detained in Nigeria since February, has been postponed once again.
According to a report from Reuters on May 2, lawyers representing Binance stated that they had not received the necessary documents to proceed with a money laundering case involving the firm, Gambaryan, and regional manager Nadeem Anjarwalla.
The trial, which was supposed to commence on May 2, has been adjourned until May 17 to allow the legal team to review the documents.
It is important to note that this trial is separate from the tax evasion charges brought against Binance, Gambaryan, and Anjarwalla by Nigeria's Economic and Financial Crimes Commission.
All parties involved have pleaded not guilty in the money laundering case.
A bail hearing for Gambaryan has been scheduled for May 17.
In February, Anjarwalla and Gambaryan traveled to Nigeria to address allegations that Binance had manipulated the country's fiat currency, the naira.
Both individuals were detained and charged with tax evasion and money laundering.
However, Anjarwalla reportedly managed to escape custody and fled to Kenya, where he holds citizenship in addition to the United Kingdom.
Interpol has reported that extradition proceedings for Anjarwalla are underway.
The charges brought by the Nigerian government have faced criticism for lacking merit.
The arrests of the executives coincided with Binance's announcement that it would cease all naira transactions, raising questions about the timing of the arrests.
Binance has stated that Gambaryan had no decision-making authority within the company.
In a separate criminal case in the United States, former Binance CEO Changpeng Zhao pleaded guilty to failing to maintain an Anti-Money Laundering program.
On April 30, a judge sentenced Zhao to four months in prison.
He is expected to report to a facility in Oregon or Washington at a later date.
