Binance Nigeria Executives’ Money Laundering Trial Rescheduled for May 17
The trial regarding money laundering allegations against Binance Nigeria and its executives, Nadeem Anjarwalla and Tigran Gambaryan, has been postponed to May 17, as reported by various media outlets.
According to Reuters, Binance’s lawyer requested the delay during a court appearance, citing a lack of necessary evidence related to the case. The lawyer was then given a 300-page document in court for review.
The legal saga involving Gambaryan and Anjarwalla began when they were initially detained in late February and later charged with money laundering and tax evasion. Anjarwalla attempted to flee but was recaptured in Kenya over a week ago. Anjarwalla, a citizen of both Britain and Kenya, held the position of Binance’s regional manager in Africa, while Gambaryan, a U.S. citizen, served as the company’s head of financial compliance.
According to a GoFundMe campaign initiated by Gambaryan’s wife, Yuki, the detained Binance executive was invited to Nigeria by the government for policy meetings.
Nigeria’s government is reportedly upset with Binance due to the capital outflows caused by the crypto exchange, which have exacerbated the country’s financial troubles. Binance previously stated its commitment to working with Nigerian officials to ensure the safe return of its employees.
This trial delay is the latest development in Binance’s legal troubles. Just one day prior, Vice President Garba Umar of the Nigerian Central Bureau (NCB) of INTERPOL confirmed that all necessary paperwork for Anjarwalla’s extradition back to Nigeria has been completed.
Meanwhile, Binance CEO Changpeng ‘CZ’ Zhao has been sentenced to four months in U.S. prison for his involvement in the Terra-Luna collapse. In a recent post, Zhao stated that he would serve his time and then focus on education, while remaining a passive investor in the crypto industry. He emphasized the importance of compliance in the industry’s new phase.
In addition to the money laundering trial, Binance and its executives are scheduled to appear in court on May 17 to face tax evasion charges.
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