Tax Evasion: Binance Executives’ Arraignment Stalled As Court Adjourns To April 8

A Federal High Court in Abuja has adjourned the money laundering case against Binance and its officials until April 8 as a result of the delayed service of the charge against the defendants, Tigran Gambaryan, and the company.

Justice Emeka Nwite adjourned the case for a ruling after listening to the parties’ submissions on the service of the charge against Binance Holdings Limited.

The defendants, Binance Holdings Limited and Gambaryan, were meant to be arraigned on Thursday, but it was stalled following objections from the counsel for the second defendant, Mark Mordi (SAN).

Mordi contended that the defendants cannot be arraigned following the failure of the Economic and Financial Crimes Commission (EFCC) to perfect service on Binance Holdings Limited.

He noted that the defendant was not an agent, director, or representative of the company in the country and, as such, could not be served on behalf of the first defendant.

But the counsel for the EFCC, Mr. E.E. Iheanacho, objected to his submission, saying the second respondent is a representative of the first defendant in the country, adding that the charge was served on him on behalf of the company, but he rejected it.

Iheanacho said It was not the position of the counsel for the second defendant to argue for the first defendant.

He urged the court to enter a plea of not guilty for the first defendant and continue with the proceedings.

The EFCC accused the defendants of money laundering and foreign exchange contraventions to the tune of $35,400,000.

In the charge sheet obtained by Persecondnews, the anti-graft agency alleged they concealed the origin of a cumulative sum of $35,400,000 generated as revenue by Binance in Nigeria, knowing that the funds constituted proceeds of unlawful activity.