Binance executive Tigran Gambaryan, who was detained in Nigeria in February, pleaded not guilty to four counts of money laundering charges during his court appearance on April 8. Gambaryan asserted that he should not be held accountable for Binance’s activities in Nigeria as he lacks decision-making authority in the company’s operations. However, Judge Emeka Nwite rejected this defense, stating that Gambaryan had acted as Binance’s representative during previous trips to Nigeria. The judge cited local laws that allow individuals without physical presence in Nigeria to be served through a physical agent. Gambaryan’s case has been adjourned until April 19, with the hearing on bail consideration now postponed until April 18. The substantive charge hearings are scheduled to commence on May 2. Judge Nwite ordered Gambaryan’s remand at Kuje prison in Abuja until the conclusion of the case. Gambaryan’s lawyer requested his return to the Economic and Financial Crimes Commission (EFCC), but the EFCC’s counsel argued that accused individuals of similar offenses are typically sent to the Kuje facility. Meanwhile, Binance’s Africa Regional Manager, Nadeem Anjarwalla, managed to escape Nigeria in March. The charges against Gambaryan and Anjarwalla are part of a wider investigation into Binance’s alleged manipulation and crash of the Nigerian naira, as well as tax fraud accusations.
Binance executive arrested in Nigeria maintains innocence, pleads not guilty to charges