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Binance Executive’s Money Laundering Trial Delayed in Nigeria

Binance Nigeria

Binance a representative for the family of imprisoned executive Tigran Gambaryan announced on Thursday that the money laundering trial in Nigeria has been postponed until May 17.

The trial was originally set to start today, but it was postponed after the Economic and Financial Crimes Commission (EFCC) of Nigeria produced a document as proof that the attorneys for Binance had not seen it. The court supervising the case granted Gambaryan additional time to examine the evidence, which is purportedly 300 pages lengthy, since he had a legitimate right to do so.

In February, British-Kenyan regional manager for Africa Nadeem Anjarwalla and U.S. citizen Gambaryan, who works for Binance as head of financial compliance, were both arrested in Nigeria. Nearly a month later, Nigerian authorities brought charges of tax evasion and anti-money laundering against the corporation and its officials. It was the EFCC that filed the money-laundering charges.

Since then, Anjarwalla has escaped, and authorities in Nigeria are searching for him. Gambaryan is being held in Kuje jail for his bail hearing, which is scheduled for May 17 alongside the tax evasion trial. The fact that the exchange had not received formal accusations was another reason for the April postponement of the tax evasion trial.

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