The trial of Tigran Gambaryan, a Binance executive who has been detained in Nigeria since February, has been postponed once again and is now scheduled to begin on May 17. This delay is due to the fact that the lawyers representing Binance have not yet received the necessary documents to proceed with the money laundering case involving the firm, Gambaryan, and regional manager Nadeem Anjarwalla. The judge has adjourned the proceedings to give the legal team enough time to review the documents.
It is important to note that this trial is separate from the tax evasion charges brought against Binance, Gambaryan, and Anjarwalla by Nigeria’s Economic and Financial Crimes Commission. All parties involved have pleaded not guilty in the money laundering case. A bail hearing for Gambaryan has also been scheduled for May 17.
Anjarwalla and Gambaryan had traveled to Nigeria in February to address allegations that Binance had manipulated the country’s fiat currency, the naira. However, both men were detained and charged with tax evasion and money laundering. Anjarwalla managed to escape custody and fled to Kenya, where he holds citizenship in addition to the United Kingdom. Interpol has reported that extradition proceedings for Anjarwalla are currently underway.
The Nigerian government’s charges have faced criticism from many who believe they lack merit. The timing of the arrests, which occurred as Binance announced its intention to cease all naira transactions, has raised questions about the motives behind the charges. Binance has stated that Gambaryan had no decision-making power at the cryptocurrency firm.
In a separate criminal case in the United States, former Binance CEO Changpeng Zhao has been sentenced to four months in prison after pleading guilty to failing to maintain an Anti-Money Laundering program. Zhao is expected to report to a facility in either Oregon or Washington at a later date.
In other news, an analysis of crypto hacks has revealed the favorite exploit of the Lazarus Group.