Court To Resume Money Laundering Case Against Binance On September 2

The Federal High Court will resume the money laundering case against crypto exchange Binance and two of its executives on September 2, 2024.

The case which was originally scheduled for October 11, now comes a month earlier, after the defence lawyers asked for the date change, reports Reuters.

The Federal Government accused Binance for concealing the origin of their alleged unlawful financial proceeds, totaling $35,400,000, a act contrary to the Money Laundering (Prevention and Prohibition) Act.

Binance is also accused of tax evasion, operating without licence and regulatory compliance.

Tigran Gambaryan was one of two Binance executives arrested on arrival in the country on February 26, 2024, after being accused of money laundering through their platform and has been in custody ever since.

Gambaryan’s colleague, Nadeem Anjarwalla, the regional manager for Binance in Africa on March 24, escaped from custody using a smuggled passport.

Also, according to a statement by Gambaryan’s family on Monday, “today makes it 6 months since Tigran was detained by the Nigerian authorities”.

Ahead of the court appearance next month, the family said from “July 26th to August 14th, Tigran’s lawyers were not allowed to enter the prison to visit him and prepare for his trial”.

“They were allowed a brief 5-minute visit on August 15 and have since been blocked from entering again. His legal team are therefore unable to prepare him for trial which goes against the Nigerian constitution,” the family said.

“The US Embassy also no longer has access to Tigran as he is not allowed to use a wheelchair and he cannot physically walk to the visitor area.

“The court went into recess on July 16th. An application was made to have the case heard during the recess and was approved so the next hearing date is now set for September 2nd.

Tigran has missed countless milestones whilst in detention including his son’s 5th birthday and first day of school; his own 40th birthday which he spent locked up in a Nigerian prison cell.

“He is also about to miss his wife’s birthday on August 31st as well as their 15th wedding anniversary.”

Also, Yuki Gambaryan, Tigran’s wife, said for the past six months their “living nightmare has been filled with pleas”.

“It has been 6 months since I last hugged my husband and since our children last held their father’s hand,” she said.

“Tigran Gambaryan, my husband, a former US federal agent, has now been detained in a Nigerian prison for half a year.

“His health is deteriorating to the point where he can no longer walk and he is being inhumanely denied the use of a wheelchair.

“Between bouts of malaria, pneumonia, and the incredible mental toll of his detention, Tigran, who is usually so strong, is reaching a breaking point. He needs immediate medical treatment and risks permanent damage.

“For 6 months, our living nightmare has been filled with pleas. Pleas to the U.S. government, pleas to the Nigerian government, pleas to the media, pleas to anyone who will listen.

“I am pleading for their mercy, for their understanding, for their humanity.”

Yuki said her husband is innocent and needs to be released before it is too late and the damage done to him is irreversible.

Recall that Yuki On August 12, had asked the federal government to release her husband, due to his deteriorating health condition.

She said her husband has a herniated disc on his back and might require surgery or risk walking again.

Court To Resume Money Laundering Case Against Binance On September 2 is first published on The Whistler Newspaper