Sign Up to Our Newsletter

Be the first to know the latest updates

Crime

Federal Government to Arraign Binance Officials on Money Laundering Charges

The Nigerian government, through the Economic and Financial Crimes Commission (EFCC), will arraign Tigran Gambaryan and Nadeem Anjarwalla, two top officials of Binance Holdings Ltd, on five counts of money laundering charges on Thursday.

Gambaryan and Anjarwalla, who escaped from lawful custody on March 22 and fled Nigeria, will be arraigned before Justice Emeka Nwite of a Federal High Court (FHC) in Abuja.

Although the crypto exchange firm, Gambaryan, and Anjarwalla are listed as 1st to 3rd defendants respectively, Anjarwalla, described as “at large” by the EFCC in the counts, is expected to be arraigned in absentia.

In the charge dated and filed on March 28 by the anti-graft agency, the trio is accused of money laundering amounting to $35,400,000.

Related news: Breaking: FG Declares Binance Executive, Anjawalla WANTED

Count one accuses the defendants of carrying on specialized business of another financial institution without a valid license between January 2023 and January 2024 in Abuja.

The offense is said to be contrary to Section 57(1) and (2) of the Banks and Other Financial Institutions Act, 2020, and punishable under Section 57(5) of the same Act.

NAN had also reported on March 28 that the Federal Inland Revenue Service (FIRS) would arraign Binance Holdings Limited, Gambaryan, and the fleeing Anjarwalla on allegations of tax evasion on April 4.

Related news: Breaking: Detained Binance Executive Escapes Custody in Nigeria

In the charge marked FHC/ABJ/CR/115/2024, the three defendants will be arraigned before Justice Nwite on four counts.

Though the FHC’s Easter vacation, which began on March 22, will end on April 8, Chief Judge of FHC, Justice John Tsoho, directed the transfer of Binance’s case file to Justice Nwite, despite him not being a vacation judge.

The chief judge granted the fiat for the judge to handle the case during vacation as it concerns dire national interest.

The two cases were fixed for Thursday to allow for accelerated hearing.

Timeless Update Reporter

Timeless Update Reporter

About Author

With a wealth of experience in journalism and digital media, we bring a keen eye for detail and a commitment to excellence. We ensure that every article meets the publication's standards of quality and accuracy. Our dedication to journalistic integrity and strategic editorial guidance contributes to Timeless Update's reputation as a trusted source of news and information.

Leave a Reply

Welcome to Timeless Update, where we curate and deliver the latest news and trends with a touch of timeless elegance. 

Get Latest Updates and big deals

    Join us on a journey of discovery and enlightenment as we explore the past, present,

    Timeless Update @2023-2024. Developed by Dozen.com.ng . All Rights Reserved.