The trial of Tigran Gambaryan, a Binance executive who has been in custody in Nigeria since February, has been postponed once again and is now scheduled to begin on May 17, according to a report by Reuters on May 2. Lawyers representing Binance stated that they had not yet received the necessary documents to proceed with the money laundering case involving the company, Gambaryan, and regional manager Nadeem Anjarwalla. In order to allow the legal team time to review the documents, the judge decided to adjourn the proceedings until May 17. 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, and a bail hearing for Gambaryan is scheduled for May 17.
Both Anjarwalla and Gambaryan traveled to Nigeria in February to address allegations of Binance’s manipulation of the country’s fiat currency, the naira. However, authorities detained and charged both individuals with tax evasion and money laundering. While Anjarwalla reportedly managed to escape custody and flee to Kenya, where he holds citizenship in addition to the United Kingdom, extradition proceedings for him are currently underway, as reported by Interpol on April 30.
The charges brought by the Nigerian government against the executives have faced criticism for lacking merit. Many question the timing of the arrests, as they occurred just as Binance announced its decision to stop all naira transactions. Binance has emphasized that Gambaryan had no decision-making authority at the crypto 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. Zhao pleaded guilty to failing to maintain an Anti-Money Laundering program. He is expected to report to a facility in Oregon or Washington at a later date.
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