Binance executive denies Nigerian money laundering charges
Nigerian authorities arraigned Binance executive Tigran Gambaryan before an Abuja High Court on April 8, where the employee denied allegations and applied for bail.
The senior Binance U.S. executive pleaded not guilty to money laundering charges before a Nigerian Federal High Court in the country’s capital as the government began its case against the cryptocurrency exchange.
Gambaryan’s lawyer argued his client should not be held liable for the actions of Binance Holdings Limited, claiming that prosecutors failed to serve the company properly. On April 3, the crypto firm also “respectfully requested” Gambaryan’s release, stressing that he boasted no decision-making position at the firm.
However, attorneys for Nigeria’s Economic and Financial Crimes Commission (EFCC) said constitutional provisions allowed the prosecution of company executives. Justice Emeka Nwite ruled that federal prosecutors were in line with legal conduct and noted that a magistrate court dismissed previous objections to the case.
Following the ruling, Gambaryan was remanded to the Kuje correctional center while the court adjourned until April 18 to decide on his bail request. According to local media Punch, the trial will resume on May 2.
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