A Nigerian court has postponed the money laundering trial against cryptocurrency exchange Binance and two of its executives to 17th May, following a delay in serving necessary documents to the exchange’s legal representatives.
The trial involves Binance executives, Tigran Gambaryan, a U.S. citizen and head of financial crime compliance, and British-Kenyan Nadeem Anjarwalla, a regional manager for Africa. They face charges of laundering over $35 million and engaging in specialised financial activities without a license. All defendants have pleaded not guilty.
During Thursday’s court session, Binance’s lawyer raised concerns about not receiving the required proof of evidence to adequately prepare for the case and initiate trial proceedings. After the lawyer was served with the additional documents in court, the judge adjourned the trial to May, affording the legal team time to review the extensive 300-page document.
In addition to the money laundering charges brought by Nigeria’s anti-graft agency, the Economic and Financial Crimes Commission (EFCC), Binance and its executives also face four counts of tax evasion in a separate trial. This trial is set to resume on the same date.
