High Court has adjourned the trial concerning a $35 million money laundering case involving executives from Binance until May 13th.
The money laundering trial involving the cryptocurrency exchange platform Binance and two of its executives, Tigran Gambaryan and Nadeem Anjarwalla, has been adjourned to May 13 by the Federal High Court in Abuja. This adjournment follows legal proceedings as Binance and its executives face allegations of laundering over $35 million.
In a related development, the court has also adjourned a tax evasion trial against Binance and the same executives to May 17. This decision was made due to Binance not being formally served with the tax evasion charges, complicating the legal process.
Gambaryan’s lawyer, Chukwuka Ikuazom, emphasized the delay in proceedings, stating that his client could not take a plea until Binance, the primary defendant, had been properly served according to Nigerian law.
These trials have garnered significant attention, especially with Nadeem Anjarwalla’s escape from Nigerian authorities to Kenya, which added complexity and urgency to the proceedings. Anjarwalla’s escape was concerning to the Economic and Financial Crimes Commission (EFCC), which argued against granting bail to Gambaryan, citing the flight risk demonstrated by Anjarwalla’s actions.
In addition to money laundering, Binance, Gambaryan, and Anjarwalla face four counts of tax evasion, primarily involving failures to register with Nigeria’s Federal Inland Revenue Service (FIRS) for tax remittance purposes.
