Binance Nigeria Executives’ Money Laundering Trial Postponed to May 17
The trial for the Binance Nigerian money laundering case involving the cryptocurrency exchange and its executives, Nadeem Anjarwalla and Tigran Gambaryan, has been rescheduled to May 17, according to reports from Thursday. Binance’s lawyer requested the delay during a court appearance, citing the need for necessary evidence related to the case. The lawyer was later served with a 300-page document in court for review.
The legal saga of Gambaryan and Anjarwalla began when they were initially detained in late February and later charged with money laundering and tax evasion. Anjarwalla fled but was recaptured in Kenya. Anjarwalla, a dual citizen of Britain and Kenya, served as the regional manager for Binance in Africa, while Gambaryan, a U.S. citizen, was the company’s head of financial compliance.
According to a GoFundMe campaign by Gambaryan’s wife, Yuki, the detained Binance executive was invited to Nigeria by the government for policy meetings. The Nigerian government is reportedly upset about the capital outflows caused by Binance, which have worsened the country’s financial troubles. Binance stated previously that it was cooperating with Nigerian officials to ensure the safe return of its employees.
This trial delay is the latest development in Binance’s legal troubles. It comes just a day after Garba Umar, the Vice President of the Nigerian Central Bureau of INTERPOL for Africa, confirmed that all extradition paperwork for Anjarwalla has been finalized. Umar stated that they are now working to initiate the extradition process and bring Anjarwalla back to Nigeria to face justice.
Meanwhile, Binance CEO Changpeng ‘CZ’ Zhao has been sentenced to four months in U.S. prison for his involvement in the collapse of Terra-Luna. In a post on Tuesday, Zhao stated that he will serve his time and then focus on the next chapter of his life, which involves education. He also emphasized the importance of compliance in the industry.
In addition to the money laundering trial, Binance and its executives are scheduled to appear in court on May 17 to face tax evasion charges.
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