Binance: Court suspends $35 million money laundering trial

ABUJA (Sundiata Post) – On Thursday, an Abuja Federal High Court adjourned a money laundering trial involving Binance and two of its executives to May 13.

Binance, Tigran Gambaryan, a US citizen and head of its financial crime unit, and Nadeem Anjarwalla are on trial for laundering more than $35 million.

The trial filed by the Economic and Financial Crimes Commission (EFCC) was scheduled to resume today (Thursday), May 2, before it was postponed.

Anjarwalla, a British Kenyan, recently escaped Nigerian authorities to Kenya.

The court had also postponed a tax evasion trial against cryptocurrency exchange Binance and its two executives until May 17, after the case stalled because the exchange was not formally served with the charges.

Gambian lawyer Chukwuka Ikuazom objected, arguing that since Binance and its executives were being sued jointly, he could not enter a plea until the platform, the first defendant in the case, had been served, according to Nigerian law.

Judge Emeka Nwite therefore adjourned the case until May 17 to deliver judgment.

Binance, Gambaryan and Anjarwalla face four counts of tax evasion.

The charges include failure to register with the Nigerian Federal Inland Revenue Service (FIRS) for tax payment.

Binance, which was not represented in court and had no immediate comment, said it was working closely with Nigerian authorities following Gambaryan’s detention.

Last Tuesday, EFCC had urged Justice Emeka Nwite of the Federal High Court, Abuja, to dismiss Gambaryan’s bail application.