Arrested Binance exec pleads not guilty in Nigeria

Arrested Binance CEO Tigran Gambarian has pleaded not guilty to four counts of money laundering in Nigeria, according to local reports.

After being arrested in Nigeria in late February, Gambarian pleaded innocent in court on April 8, local news agency People's Newspaper reported.

At the hearing, Gambarian reiterated that he should not be responsible for the activities of Binance in Nigeria because he does not have the authority to decide on the business of the company.

Gambarian's lawyer, Chukukuka Ikwazom, argued that his client could not file a plea on his behalf even if he was sued by his absconding colleague.

Justice Emeka Nwite rejected Gambarian's argument citing local laws as a representative of Binance in his trips to Nigeria.

“A person who is not physically present in Nigeria but has a physical agent in Nigeria can be properly served,” the judge reported.

This is a developing story, and more information will be added as it becomes available.