The trial of Tigran Gambaryan, a Binance executive who has been held in Nigeria since February, has reportedly been postponed until May 17 due to a delay in court proceedings.
According to a Reuters report on May 2, lawyers representing Binance stated that they had not received the necessary documents to proceed with a money laundering case involving the company, Gambaryan, and regional manager Nadeem Anjarwalla. The trial was originally scheduled to begin on May 2, but the judge adjourned the proceedings 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 men were detained and charged with tax evasion and money laundering. However, Anjarwalla reportedly escaped custody and fled to Kenya, where he holds citizenship in addition to the United Kingdom. On April 30, Interpol reported that extradition proceedings for Anjarwalla were progressing.
Many individuals have criticized the Nigerian government’s charges, claiming that they lack merit. The arrests of the Binance executives coincided with the company’s announcement to cease all naira transactions, raising questions about the timing of the arrests. Binance has stated that Gambaryan had no decision-making authority at the cryptocurrency firm.
In a separate criminal case in the United States, former Binance CEO Changpeng Zhao was sentenced to four months in prison on April 30 after pleading guilty to failing to maintain an Anti-Money Laundering program. Zhao is expected to report to a facility in Oregon or Washington at a later date.
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