Nigerian court postpones Binance and execs money laundering trial
The trial of Tigran Gambarian, the Binance executive who has been in prison in Nigeria since February, has reportedly been postponed until May 17 after a court adjournment.
According to a May 2 Reuters report, lawyers representing Binance said they have not received documents necessary to proceed with money laundering charges against the firm, its Gambian and regional manager Nadeem Anjarwala. The trial was expected to begin on May 2, but the judge reportedly postponed the trial until May 17 to allow the legal team to examine the documents.
The trial is separate from the tax evasion case filed by Nigeria's Economic and Financial Crimes Commission against Binance, Gammbaryan and Anjarwalla. All parties have pleaded not guilty to the money laundering case. The Gambian bail hearing is set for May 17.
Anjarwala and Gambarian traveled to Nigeria in February to respond to allegations that Binance had rigged the country's fiat currency, the naira. Authorities charged him with both tax evasion and money laundering, but Anjarwala reportedly escaped custody and fled to Kenya, where he holds citizenship in addition to the UK. Interpol reported on April 30 that the extradition process for Anjarwala is moving forward.
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Many have criticized the Nigerian government's charges as irrelevant. When Binance announced its intention to halt all naira transactions, the country's authorities arrested both executives, questioning the timing of the arrests. Binance Gambia said it has “no decision-making power” over the crypto firm.
In a separate criminal case in the United States, a judge sentenced former Binance CEO Changpeng Zhao to four months in prison on April 30 following his guilty plea to failing to maintain an anti-money laundering program. Zhao is expected to report to a facility in Oregon or Washington on a date to be announced.
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