Nigerian Court Adjourns High-Profile Money Laundering Case Involving Binance

A Nigerian court has postponed the money laundering trial of cryptocurrency exchange Binance and two of its executives, Tigran Gambaryan and Nadeem Anjarwalla, to October 11th. The delay is due to the absence of a court-ordered medical report. The case involves allegations of laundering over $35 million and tax evasion charges.

On Tuesday, a Nigerian court postponed the money laundering trial against Binance and two of its key executives to October 11, attributing the adjournment to the lack of a court-ordered medical report for one of the defendants.

The leading cryptocurrency exchange, along with Tigran Gambaryan, its U.S. head of financial crimes compliance, and British-Kenyan Nadeem Anjarwalla, an Africa regional manager, are facing accusations of laundering more than $35 million and operating without a proper license. Binance also faces separate tax evasion charges. All parties involved have pleaded not guilty.

Appearing in a wheelchair, Gambaryan has seen his case stall since May due to health issues. The court's frustration increased as hospital records needed to validate Gambaryan's health were not provided. Consequently, Judge Emeka Nwite issued a bench warrant for the arrest of the hospital's director. Furthermore, Gambaryan was ordered to be hospitalized for 24 hours to ensure proper treatment. Despite claiming illness, U.S. lawmakers are urging for his release based on humanitarian grounds. Binance, contesting the charges, provided no immediate comment but faces increased scrutiny over its role in Nigeria's financial instability.

(With inputs from agencies.)