2024-04-10
In Nigeria, Tigran Gambaryan's defense argument was rejected by a court, which ruled that he had acted as Binance's representative during his previous visits to the country.
According to local reports, Tigran Gambaryan, an executive of Binance who has been detained, pleaded not guilty to four charges of money laundering in Nigeria.
Gambaryan maintained his innocence during a court hearing on April 8, as reported by the local news agency Gazzet. He argued that he should not be held accountable for Binance's activities in Nigeria since he lacks decision-making authority in the company's business operations.
Gambaryan's lawyer, Chukwuka Ikuazom, also contested that his client, despite being charged alongside his escaped colleague, cannot enter a plea on his behalf.
However, Judge Emeka Nwite rejected Gambaryan's defense argument, citing local laws, and ruled that he had indeed acted as Binance's representative during his past trips to Nigeria.
"The Judge reportedly stated that a person who has no physical presence in Nigeria but has a physical agent in Nigeria can be duly served through that agent," according to the reports.
Last week, Gambaryan's case was adjourned until April 19. However, new reports indicate that the hearing on his bail consideration has been further adjourned until April 18. It has also been mentioned that hearings on the substantive charge will commence on May 2.
The Peoples Gazette reported that Judge Nwite ordered Gambaryan to be kept in custody at Kuje prison in Abuja until the case is resolved.
Gambaryan's attorney reportedly requested the court to return the defendant to the Economic and Financial Crimes Commission (EFCC). However, the EFCC's counsel disputed the suggestion, stating that individuals accused of similar offenses are usually sent to the Kuje facility while awaiting the court's decision.
Meanwhile, Nadeem Anjarwalla, Binance's Africa regional manager, managed to escape and fled Nigeria in March while Gambaryan remains in custody.
The charges against Gambaryan and Anjarwalla by the EFCC are part of a broader investigation into Binance's activities in Nigeria. Local authorities allege that the exchange manipulated and crashed the Nigerian naira, the country's fiat currency. Additionally, both Gambaryan and Anjarwalla are accused of tax fraud.
