Key takeaways:
- Tigran Gambaryan has pleaded not guilty to four money laundering counts in Nigeria.
- Judge Emeka Nwite dismissed Gambaryan’s defense and said, citing regional legislation, that he had represented Binance in previous trips to Nigeria.
Tigran Gambaryan, an official at Binance who is currently under arrest, has reportedly pleaded a not-guilty plea to four money laundering counts in Nigeria.
On April 8, local news outlet Peoples Gazette stated that Gambaryan, who was detained in Nigeria towards the end of February, declared his innocence in court.
Gambaryan stressed throughout the hearing that he shouldn’t be held responsible for the company’s activities in Nigeria as he doesn’t have decision-making authority over Binance’s business operations.
In addition, Chukwuka Ikuazom, Gambaryan’s attorney, denied that his client was entitled to enter a plea even if charges pertaining to his fugitive colleague had been served.
Judge Emeka Nwite dismissed Gambaryan’s defense and said, citing regional legislation, that he had represented Binance in previous trips to Nigeria. The judge said:
“A person who has no physical presence in Nigeria but has a physical agent in Nigeria can be duly served through that agent,”
Gambaryan’s case was postponed till April 19 last week, as was previously reported. According to the latest sources, Gambaryan’s bail consideration hearing has been delayed till April 18.
According to a few newspapers, hearings on the substantive charge are scheduled to start on May 2.
According to the Peoples Gazette, Judge Nwite reportedly mandated that Gambaryan be detained at the Kuje jail in Abuja until the matter is resolved.
According to reports, Gambaryan’s lawyer requested that the defendant be returned to the Economic and Financial Crimes Commission (EFCC). That argument was shot down by the EFCC’s lawyer, who asserted that people accused of offenses similar to Gambaryan’s are routinely held in the Kuje facility pending the court’s decision.
Nadeem Anjarwalla, the regional manager for Africa at Binance, absconded from Nigeria in March, while Gambaryan is still being held.
The EFCC’s accusations against Gambaryan and Anjarwalla highlight the need for a more thorough examination of Binance’s operations in Nigeria. According to local officials, the Nigerian naira, the local fiat currency, was purportedly manipulated by the exchange and fell. Anjarwalla and Gambaryan have also been charged with tax fraud.
