Binance Executives’ Trial in Nigeria Adjourned to May 17
NAIROBI (Coinchapter.com) – A Nigerian court has postponed the high-profile trial of Binance executives Tigran Gambaryan and Nadeem Anjarwalla until May 17, citing delays in serving crucial documents to the defense team.
This latest development adds another layer of complexity to the ongoing saga between Binance and Nigerian authorities. The exchange and Binance executives themselves, Tigran Gambaryan and Nadeem Anjarwalla, have been accused of laundering over $35 million and operating without a license. All parties have pleaded not guilty.
Missing Documents Hinder Trial Progress
The postponement highlights potential issues with due process in the case. Binance’s lawyer argued in court that they hadn’t been served with additional evidence – a critical over 300-page document – necessary to build their defense. The judge subsequently adjourned the trial, allowing Binance’s legal team time to review the documents before proceeding on May 17th.
This delay raises questions about the transparency of the case. A fair trial hinges on both sides having access to all relevant evidence. This postponement ensures that Binance has a chance to address the accusations against them properly.
Controversy Surrounds Binance Case
Gambaryan and Anjarwalla initially traveled to Nigeria in February to address concerns about Binance’s impact on the country’s fiat currency, the naira. Following their arrival, authorities detained both executives on charges of tax evasion and money laundering. This move came as Binance announced plans to stop all naira transactions.
The timing of these events, alongside the disputed charges, has led some to question the Nigerian government’s motivations. Anjarwalla further complicated the case by reportedly escaping custody and fleeing to Kenya, prompting extradition proceedings from Interpol.
Escalating Tensions and Extradition Efforts
The trial’s postponement comes amid escalating tensions between Binance and Nigerian authorities. Anjarwalla, who holds dual British and Kenyan citizenship, reportedly escaped custody and fled to Kenya shortly after his initial detention in February.
Interpol has confirmed that extradition proceedings for Anjarwalla are underway, adding another layer of complexity to the case. Nigerian officials have accused Binance of manipulating the country’s fiat currency, the naira, allegations that the exchange has vehemently denied.
Binance’s legal woes extend beyond Nigeria. On April 30th, 2024, a U.S. judge sentenced former Binance CEO Changpeng Zhao to four months in prison. Zhao’s guilty plea stemmed from failure to maintain an Anti-Money Laundering program. This global focus reflects increased regulatory scrutiny of cryptocurrency exchanges.
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