Tigran Gambaryan, a senior executive of Binance, arrested in Nigeria, has reportedly entered a not-guilty plea to four money laundering allegations.
According to the Peoples Gazette, a local news outlet, on April 8, Gambaryan declared his innocence in court following his detention in Nigeria around the end of February.
Gambaryan emphasized during the hearing that he shouldn’t be held accountable for Binance’s actions in Nigeria since he lacks decision-making power over the company’s commercial operations.
Chukwuka Ikuazom, the attorney for Gambaryan, also contended that his client was not permitted to enter a plea on his behalf, even though he was presented with accusations about his escaped colleague.
Citing local rules, Judge Emeka Nwite dismissed Gambaryan’s case and declared that he had represented Binance during prior trips to Nigeria.
According to reports, the Judge said, “A person who has a physical agent in Nigeria but no physical presence 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 postponed till April 18. Moreover, several media outlets stated that the substantive charge hearings will 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, the defendant’s lawyer requested that the court send Gambaryan back to the Economic and Financial Crimes Commission (EFCC). The EFCC’s attorney, however, refuted the idea, claiming that individuals charged with crimes comparable to Gambaryan’s are consistently detained in the Kuje facility until the court makes its ruling.
Nadeem Anjarwalla, the regional manager for Africa at Binance, absconded from Nigeria in March, while Gambaryan is still being held.
The accusations made by the EFCC against Gambaryan and Anjarwalla highlight the need for a more thorough examination of Binance’s operations in Nigeria.
Authorities in the area claim that the exchange distorted and crashed the Nigerian naira, the nation’s fiat currency. Anjarwalla and Gambaryan have also been charged with tax fraud.
