United

April

The trial of Tigran Gambaryan, a <a href="https://www.binance.com/en" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">Binance</a> executive detained in Nigeria, has been postponed again, this time until May 17, according to a recent announcement.
Gambaryan has been held since February over allegations involving money laundering.
A Reuters report from May 2 stated that Binance’s legal team did not receive necessary documents to proceed with the trial, initially slated to begin on the same day.
The delay was confirmed by the presiding judge who adjourned the case to allow sufficient time for document review.
This case, which accuses Gambaryan and Binance’s regional manager Nadeem Anjarwalla of money laundering, is distinct from another set of tax evasion charges filed against them and Binance by Nigeria’s Economic and Financial Crimes Commission.
All parties involved in the money laundering allegations have entered pleas of not guilty.
Alongside the postponed trial, a bail hearing for Gambaryan has been scheduled for the same date, May 17.
The backdrop to these legal troubles involves a contentious visit by Anjarwalla and Gambaryan to Nigeria.
Their trip was aimed at addressing accusations that Binance had manipulated Nigeria’s currency, the naira.
READ MORE: <a href="https://www.cryptointelligence.co.uk/bitcoin-price-plunges-following-lackluster-debut-of-hong-kong-etf/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Price Plunges Following Lackluster Debut of Hong Kong ETF</a>
However, following their visit, both were detained on charges of tax evasion and money laundering. Anjarwalla managed to escape custody and has since fled to Kenya, where he also holds citizenship, in addition to the United Kingdom.
On April 30, Interpol confirmed that extradition proceedings to return Anjarwalla were underway.
The timing of the arrests has drawn skepticism and criticism, especially as they coincided with Binance’s announcement to halt all transactions in the Nigerian naira.
This move led to speculation about the motives behind the government’s charges.
Binance has defended Gambaryan, asserting that he does not hold decision-making authority within the company.
Meanwhile, in the United States, a related criminal case has concluded with former Binance CEO Changpeng Zhao receiving a four-month prison sentence.
On April 30, he was found guilty of failing to implement a proper Anti-Money Laundering program.
Zhao is scheduled to serve his sentence in a correctional facility in either Oregon or Washington, with the specific date yet to be confirmed.
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Binance Executive’s Trial in Nigeria Postponed Again; Legal Delays and Global Scrutiny Intensify

Crypto Intelligence

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