Binance: Court adjourns money laundering suit till May 17 

Justice Emeka Nwite of the Federal High court sitting in Abuja has adjourned till May 17 the money laundering charges preferred against Binance Holdings Limited and two of its executives, Tigran Gambaryan and Nadeem Anjarwalla

The matter was adjourned on Thursday for continuation of trial. 

At the resumed proceedings, counsel to the defendant, Tony Krukrubo, informed the court that he was yet to be served the additional proof of evidence.

The court bailiff told the Judge that efforts made by him to serve Gambaryan, the documents in Kuje prison on April 30, was unsuccessful.

He said that Gambaryan had told him to serve the documents on the first defendant’s (Binance Holdings Limited) lawyer since the first defendant now has a legal representation of its own.

The trial Judge at that point ordered that Binance’s counsel be served the documents immediately.

The judge held: “This matter will now be adjourned till May 17 for trial” Justice Nwite said.

Gambaryan, through his counsel, Mark Mordi (SAN) had tried to convince the court why he should be granted bail.

In his arguments, Mordi told the court that his client has been in custody for more than 50 days in a foreign land without visits from family members, saying that his client doesn’t pose flight risk as portrayed by the prosecution.

“He can’t go anywhere, the EFCC have his passport. Already, being here unable to go meet his family is enough torture.

“The proof of service does not contain one document that incriminates my client. I dare him (complainant) to bring it out let’s see”. Mordi said.

Countering, the prosecution counsel, Emeka Iheanacho, urged the court to refuse Gambaryan’s bail request and transfer him from Kuje prison to EFCC custody to prevent him from escaping.

He further told the court that the defendant is a dual citizen of two nationalities, saying he is an American and Armenian by birth.

Gambaryan, his company, Binance Holdings Limited and Anjarwalla, a fellow Binance top executive currently on the run, were arrested and detained by the federal government over alleged terrorism financing and involvement of their firm in money laundering to the tune of $35 million.

The matter has since been adjourned till May 17.