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Binance and Executives to Face Money Laundering Charges, Court Rules

Justice Emeka Nwite of the Federal High Court in Abuja on Monday ordered the arraignment of Binance Holdings Limited and two of its executives, Tigran Gambaryan and Nadeem Anjarwalla, over alleged money laundering offences.

The order came after the judge ruled that the court documents served on the second defendant, Gambaryan, were proper. Justice Nwite highlighted evidence indicating that Gambaryan, employed by Binance in 2021, was duly appointed and represented Binance in a meeting with the federal government in February.

Contrary to Gambaryan’s objections last week, Justice Nwite deemed the service of the court process on the second defendant valid and ordered him to enter his plea.

In the charge filed on March 28 by the EFCC, the defendants are accused of money laundering amounting to $35,400,000. Gambaryan and Anjarwalla were arrested in late February. Anjarwalla was reportedly held until March 22 when he escaped custody and fled Nigeria.

The case has been adjourned to April 8 to determine whether Gambaryan can be arraigned without serving the court papers on Binance.

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