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A Nigerian court has postponed a money laundering
trial against Binance and two of its executives, Reuters reported. The judge has cited unresolved issues over medical documentation for one of the defendants. The trial,
involving allegations of laundering over $35 million, has now been rescheduled
for October.
Ongoing Medical Record Dispute
The delay arose from a medical report for Tigran
Gambaryan ordered by the court, Binance‘s Head of Financial Crimes Compliance,
which was not submitted as evidence. Gambaryan, who has been ill, reportedly
appeared in court in a wheelchair, further complicating proceedings. The judge
expressed frustration over the hospital’s non-compliance in providing the
required documents.
Judge Emeka Nwite issued a bench warrant for the
arrest of the hospital’s medical director and ordered that Gambaryan be
admitted to the hospital for 24 hours to ensure proper treatment. This
directive came after repeated delays attributed to Gambaryan’s health,
including malaria and pneumonia.
The case has drawn international attention, with US lawmakers urging the American embassy in Nigeria to advocate for Gambaryan’s
release on humanitarian grounds. Meanwhile, Binance is contesting the charges,
which include four counts of tax evasion and money laundering.
Earlier, Nigeria blamed Binance for
exacerbating its currency crisis. Cryptocurrency platforms became preferred avenues for trading the Nigerian naira amid severe dollar shortages, which reportedly contributed to the naira’s decline to record lows.
The next court date is set for October 11, where the
presence of the hospital director and the resolution of Gambaryan’s medical
documentation are expected to be key issues.
Tax Evasion Charges
In other news, Binance has been scheduled to face tax evasion charges in Nigeria on October 11, marking a significant legal battle
for the cryptocurrency exchange accused of not registering with Nigeria’s
Federal Inland Revenue Service for tax purposes, among other allegations.
In a recent hearing, Binance’s representative Ayodele
Omotilewa pleaded not guilty to all charges. Despite similar charges against
two Binance executives being dropped in June, two of the exchange‘s executives
face separate money laundering allegations, which they deny.
Additionally, Nigeria has dropped tax evasion charges
against the two executives following the crypto exchange’s appointment of a local representative to handle legal proceedings. Gambaryan and Nadeem
Anjarwalla have denied the charges.
This article was written by Jared Kirui at www.financemagnates.com.
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