Binance Set to Free Executive Prior to Nigerian High Court Trial Scheduled for April 4th

Binance, a prominent cryptocurrency exchange, finds itself embroiled in a legal battle as its executives face impending court trials in Nigeria. The platform’s operations have come under intense scrutiny following allegations of money laundering and tax violations.

In response to the upcoming trial of Tigran Gambaryan and Nadeem Anjarwalla, two Binance executives, the exchange has issued a defense statement. The statement sheds light on Gambaryan’s background in law enforcement and his role within the company. Binance emphasizes that Gambaryan primarily oversees compliance matters but does not hold any position of power or decision-making authority.

The defense statement also makes it clear that Gambaryan should not be personally held accountable for the various serious financial crimes he has been charged with, including money laundering and tax infractions.

Both the Economic and Financial Crimes Commission (EFCC) and the Federal Inland Revenue Service (FIRS) have filed separate charges against the executives. The EFCC alleges that Gambaryan and Anjarwalla were involved in laundering approximately $35.4 million, while the FIRS accuses them of evading taxes.

Binance is currently engaged in discussions with Nigerian government officials concerning this matter.

Interestingly, the second executive, Nadeem Anjarwalla, has managed to avoid detention under undisclosed and rather unusual circumstances. One possible reason for this could be his dual nationality, as he holds citizenship in both the UK and Kenya. Whether Anjarwalla will be present at the trial tomorrow remains to be seen.

Tags: Binance