Court Adjourns Case Against Binance, Executives To May 17

The Federal High Court sitting in Abuja on Thursday morning adjourned the case against Cryptocurrency exchange platform Binance Holding Company and its two executives to May 17, 2024.

Binance and the two executives; Tigran Gambaryan, a U.S. citizen and head of financial crime compliance, and Nadeem Anjarwalla, a British-Kenyan Citizen who is the regional manager for Africa are facing money laundering charges to the tune of $35 million and dealing in specialized financial activities without a license.

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Other charges by the government include allegations of manipulation of the local currency by peer-to-peer traders on the platform.

All Parties to the case have pleaded Not guilty.

During the proceedings on Thursday, the legal counsel to the Binance executives argued that he had not been served with additional proof of evidence that he would have used to defend his client properly.

The legal counsel was served in court and the case was adjourned to allow the counsel to scrutinize the nearly 300-page document in preparation for the defense of his Binance clients.

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Binance and its team of executives are also facing a four-count charge of Tax evasion in a separate trial that will resume on May 17.

It would be recalled that Anjarwalla, one of the detained Binance executives escaped to Kenya according to Interpol and was tried in absentia. Documents for his Extradition to Nigeria have been prepared by the Interpol.