As a researcher with a background in financial crimes and investigative journalism, I find this case intriguing, given the involvement of Binance, one of the world’s largest cryptocurrency exchanges. The postponement of the trial against Binance and its executives, Tigran Gambaryan and Nadeem Anjarwalla, is not unexpected in complex financial cases such as this one.
The trial date for Binance, a cryptocurrency exchange based in Nigeria, along with two of its top executives, has been pushed back by the Nigerian court.
The trial, which was slated to start on May 2, has been pushed back to May 17 based on reports, to provide the legal squad adequate time to examine relevant documents.
Based on Reuters’ report, the court hearing for Binance’s money laundering case was delayed due to Binance’s legal team not receiving essential documents to prepare their defense for Tigran Gambaryan, the compliance officer, and Nadeem Anjarwalla.
“After being officially presented with the court document, which consisted of over 300 pages, the judge granted a postponement to give the individual ample time for thorough examination prior to the hearing on May 17.”
Reuters sources
Binance and its top officials face allegations for involvement in money laundering schemes and conducting unauthorized financial transactions.
In February, Nigerian law enforcement authorities took Gambaryan and Anjarwalla into custody. However, in March, Anjarwalla managed to break free from his confinement and illegally exited the country.
On April 8, the court dismissed Gambaryan’s claim that he couldn’t be held accountable for Binance’s activities in Nigeria. This argument hinged on the fact that the top Binance manager had provided training to local authorities as their exchange representative.
Gambaryan refused to acknowledge wrongdoing during the encounter, asserting a breach of his personal rights instead. Following this incident, he was transferred to a maximum-security confinement facility. A senior executive is under investigation for allegedly concealing taxes worth $35 million and laundering the ill-gotten funds.
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2024-05-02 19:51