Nigerian authorities recently brought Binance executive Tigran Gambaryan to an Abuja High Court on April 8. Gambaryan denied money laundering charges and applied for bail during the court proceedings.

The senior Binance U.S. executive pleaded not guilty to the charges in a Nigerian Federal High Court in the country’s capital. Gambaryan’s lawyer argued that his client should not be held responsible for the actions of Binance Holdings Limited, stating that prosecutors failed to properly serve the company. The crypto firm also requested Gambaryan’s release, emphasizing that he did not hold a decision-making position within the company.

Despite these arguments, Nigeria’s Economic and Financial Crimes Commission (EFCC) insisted that company executives could be prosecuted under constitutional provisions. Justice Emeka Nwite ruled in favor of the prosecution, noting that previous objections to the case had been dismissed by a magistrate court.

Following the ruling, Gambaryan was remanded to the Kuje correctional center, with the court adjourning until April 18 to consider his bail application. The trial is set to resume on May 2, as reported by local media outlets.

Gambaryan has been in Nigerian custody for over a month, along with another Binance executive, Nadeem Anjarwalla, who was arrested in late February. While allegations of forex rate manipulation by Binance users have subsided, the Nigerian government has pursued other charges against the cryptocurrency exchange. Anjarwalla, on the other hand, evaded detention and fled the country.

Interpol was involved in issuing an international arrest warrant for Anjarwalla, as reported by crypto.news. Binance has cooperated with local enforcement agencies and has halted naira services, including its P2P rail.

For more information, you can visit Global Crypto News for the latest updates on this developing story.

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