News

Binance Trial In Nigeria Postponed Until May 17

Key Points:

  • The Binance trial in Nigeria was delayed until May 17 due to missing documents.
  • Binance and its executives deny laundering $35 million and engaging in unlicensed financial activities.
  • Interpol completes extradition paperwork for a fleeing executive amidst tax evasion charges.
According to Reuters, a Nigerian court has adjourned the money laundering trial involving cryptocurrency exchange Binance and two of its executives to May 17.
Binance Trial In Nigeria Postponed Until May 17 2

Court Delays Binance Trial In Nigeria Over Missing Documents

The delay of Binance trial in Nigeria comes after its lawyer raised concerns about not being served with the necessary documents to prepare for the case. Specifically, the lawyer cited the lack of additional proof of evidence, which reportedly spans over 300 pages. The judge granted the lawyer more time to review the documents.

The executives facing charges are Tigran Gambaryan, head of financial compliance and a U.S. citizen, and Nadeem Anjarwalla, a British-Kenyan regional manager for Africa. Both have pleaded not guilty to charges of laundering over $35 million and engaging in specialized financial activities without proper licensing.

Interpol Completes Extradition Paperwork in Binance Executives’ Case

Apart from the money laundering case brought by Nigeria‘s Economic and Financial Crimes Commission (EFCC), Binance and its executives are also facing tax evasion charges. The Binance trial in Nigeria regarding tax evasion is scheduled to resume alongside the money laundering case.

Meanwhile, the Nigerian Central Bureau of Interpol has confirmed the completion of extradition paperwork for Anjarwalla, who has fled the jurisdiction. The Nigerian authorities are actively collaborating with other governments to serve a Red Notice against Anjarwalla and facilitate his extradition to Nigeria for trial.

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

Recent Posts

Dogecoin Price Gets $5 Prediction, Shiba Inu To Rally 1,100%, And ETFSwap (ETFS) To Jump 135x

Here are the latest predictions for Dogecoin, Shiba Inu, and ETFswap.

4 hours ago

AVAX Hits $1B in DeFi, Cardano Expected to Surge—BlockDAG Leads with $110M Presale & 100% Bonus!

Discover BlockDAG's 100% bonus and $110M presale surge that’s sparking interest among crypto enthusiasts. Also,…

4 hours ago

Crypto Institutional Investors Move To ETFSwap (ETFS) Amid $500 Million Liquidity Injection Expectations

Discover why crypto investors are moving to ETFSwap (ETFS) as $500 million liquidity injection is…

7 hours ago

Buyers Rush to Maximise Gains with BlockDAG’s 100% Bonus Offer; Plus, ETH Holds Strong as Solana Challenges Rivals

Learn about BlockDAG's $110M presale achievement and the whopping 100% bonus offer, alongside Ethereum's growth…

9 hours ago

Thai Police Corruption Case Involving Officers and Extortion

Thai police corruption exposed as officers extort millions in USDT from a Chinese man under…

12 hours ago

SafePal Telegram Wallet Launches with Swiss Bank Accounts and CeDeFi

SafePal Telegram Wallet allows 950 million users to create compliant crypto-friendly Swiss bank accounts, integrating…

13 hours ago

This website uses cookies.