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Binance Nigeria Executives’ Money Laundering Trial Pushed To May 17

The Binance Nigerian money laundering trial against the crypto exchange and its two executives, Nadeem Anjarwalla and Tigran Gambaryan, has been postponed to May 17, Thursday media reports confirm.

According to Reuters, a lawyer for Binance requested the delay during a court appearance Thursday, claiming he had yet to receive necessary proof of evidence related to the case.

Binance’s attorney was then allegedly served with the 300-page document in court and allowed to review its contents.

Binance Execs Nadeem Anjarwalla and Tigran Gambaryan’s Legal Saga

Gambaryan and Anjarwalla were originally detained in late February and later charged with money laundering and tax evasion. Anjarwalla fled shortly after, however, only to be recaptured nearly 3,000 miles away in Kenya just over a week ago.

Anjarwalla, a dual citizen of Britain and Kenya, served as the crypto exchange’s regional manager in Africa, while Gambaryan, a U.S. citizen, was the company’s head of financial compliance.

According to a GoFundMe by Gambaryan’s wife, Yuki, the now detained Binance executive was invited to Nigeria by the country’s government for a series of policy meetings.

Please sign this petition and share it widely to #BringTigranHome!https://t.co/9rploFqdtK

— Binance (@binance) April 4, 2024

Nigeria’s government is reportedly angered by capital outflows caused by the crypto exchange, which have increased the African nation’s financial troubles.

Binance, which is also facing charges in the matter, previously stated that it was working alongside Nigerian officials to ensure the safe return of its employees.

Binance Faces Compliance Issues In Nigeria And Beyond

The trial’s pushback marks the latest twist in Binance’s legal saga, coming just one day after the Nigerian Central Bureau (NCB) of the International Criminal Police Organization (INTERPOL) for Africa Vice President Garba Umar confirmed that all paperwork for Anjarwalla’s extradition back to Nigeria has been finalized.

“We are now doing everything possible to ensure the country complies with INTERPOL’s rules of international police cooperation by initiating the extradition process to bring him back to face justice in Nigeria,” Umar told local media outlet Sunrise Daily on Tuesday.

Meanwhile, Binance CEO Changpeng ‘CZ’ Zhao was sentenced to four months in U.S. prison for his role in the Terra-Luna collapse.

I would like to thank everyone for your care and support, be it writing letters, showing support on X, or in any other form. They all mean a lot to me and keep me strong. I will do my time, conclude this phase and focus on the next chapter of my life (education).

I will remain a…

— CZ BNB (@cz_binance) May 1, 2024

“I will do my time, conclude this phase and focus on the next chapter of my life (education),” the Binance founder said in a Tuesday X post. “I will remain a passive investor (and holder) in crypto. Our industry has entered a new phase. Compliance is super important.”

In addition to the money laundering trial, the crypto exchange and its executives are due back in court on May 17 to face tax evasion charges.

The post Binance Nigeria Executives’ Money Laundering Trial Pushed To May 17 appeared first on Cryptonews.

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