The trial concerning alleged money laundering activities involving cryptocurrency exchange Binance and two of its executives has been adjourned by a Nigerian court until May 17. The decision to postpone the trial stems from concerns raised by Binance’s legal representative regarding missing documents crucial for case preparation.

Among the defendants in the trial are Binance itself, along with individuals Tigran Gambaryan and Nadeem Anjarwalla. The charges leveled against them include allegations of laundering funds exceeding $35 million and conducting financial activities without the requisite licensing. Despite the accusations, all defendants have entered pleas of not guilty, signaling their intent to contest the charges in court.

Lawyer Claims Lack of Evidence Presentation

During the court proceedings, the legal counsel representing Binance voiced apprehensions over the non-receipt of supplementary proof of evidence. Emphasizing the significance of these documents in preparing the defense, the lawyer underscored the necessity for their inclusion in the case materials.

Following this assertion, the missing documents were subsequently provided in court, prompting the presiding judge to adjourn the trial until May 17. This delay allows for a thorough examination of the extensive 300-page document, ensuring that both sides have adequate time to review the evidence before resuming trial proceedings.

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Additional Trial Charges and Legal Proceedings

Beyond the allegations of money laundering, Binance and its executives face additional legal challenges, including four counts of tax evasion. A separate trial concerning these tax-related charges has also been postponed until May 17.

These legal battles unfold against the backdrop of actions initiated by Nigeria’s Economic and Financial Crimes Commission (EFCC), reflecting the heightened scrutiny faced by entities operating in the cryptocurrency space. Despite the legal hurdles, Binance and its executives maintain their innocence and intend to vigorously defend themselves against the charges as they navigate the complexities of the Nigerian legal system.

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The post Nigerian Court Halts Binance Trial, Lawyer Claims Missing Papers appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am