April

A Nigerian court has postponed a trial against cryptocurrency exchange Binance and two of its executives. 
The trial&nbsp;was expected&nbsp;to begin on May 2, but the judge reportedly postponed the trial until May 17 to allow the legal team to review documents. 
According to <a href="https://www.reuters.com/business/finance/nigeria-court-adjourns-binance-execs-trial-may-17-2024-05-02/" target="_blank" rel="">Reuters</a>, the hearing in the case&nbsp;was postponed after <a href="https://crypto.news/tag/binance/" target="_blank" rel="">Binance</a>‘s lawyer was not served&nbsp;with documents necessary to advance the money laundering case involving the firm, compliance officer Tigran Gambaryan, and regional manager Nadeem Anjarwalla. 
<blockquote class="wp-block-quote"> 
 “He was subsequently served in court and the judge adjourned to allow him to scrutinise the more than 300-page document ahead of May 17.” <cite>Reuters sources</cite>
</blockquote> 
<a href="https://crypto.news/tag/binance/" target="_blank" rel="">Binance</a> and its executives are accused of money laundering and engaging in specialized financial activities without a license. 
In February, Nigerian law enforcement officers <a href="https://crypto.news/nigeria-arrests-binance-executives-amid-naira-speculation-crackdown/" target="_blank" rel="">detained</a> Gambaryan and Anjarwalla. In March, the latter <a href="https://crypto.news/detained-binance-executive-reportedly-escapes-from-custody-in-nigeria/" target="_blank" rel="">escaped</a> from custody and left the country illegally. 
On April 8, the court <a href="https://crypto.news/binance-executive-nigeria-money-laundering/" target="_blank" rel="">rejected</a>&nbsp;Gambaryan’s defense argument that he should not be held responsible for Binance’s operations in Nigeria. The argument was the educational training conducted by the top manager for local officials as a representative of the exchange. 
Gambaryan did not admit guilt and claimed a violation of his rights. As a result of the meeting, he&nbsp;was placed&nbsp;in a high-security detention center. The top manager is accused of tax evasion and laundering&nbsp;$35 million. 
 You might also like: <a href="https://crypto.news/binance-exec-on-the-run-nigeria-pursues-extradition/" rel=""> Binance exec on the run: Nigeria government pursues extradition from Kenya </a>

Nigeria postpones Binance exec trial to May 17

crypto.news

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