Nigerian authorities has asked in court for cryptocurrency exchange Binance and two of its executives to be tried for alleged money laundering and tax evasion, the first legal step following weeks of a criminal investigation into the trading platform.
Man dies after his car collides with tractor-trailer on I-295 near Old St. Augustine Road; speed a possible factor: FHPCopyright 2024 The Associated Press. All rights reserved
Only Tigran Gambaryan, an American citizen and Binance’s head of financial crime compliance, attended the court hearing as Nadeem Anjarwalla, the company’s regional manager remains at large afterNigeria harbors Africa’s largest crypto economy in terms of trade volume with many citizens using crypto to hedge their finances against surging inflation and the declining local currency. Authorities, however, alleged the platform was being used for money laundering and terrorism financing.
Since Gambaryan and Anjarwalla were arrested on Feb.26, their trial has been shrouded with controversy after they accused authorities of illegally detaining them and seizing their passports. The Abuja court on Thursday adjourned the formal commencement of the money laundering trial till April 8 after Mark Mordi, Gambaryan’s lawyer, argued that his client could not represent Binance in the case without the company’s permission, which the public prosecutor disagreed with.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Binance Exec Escapes Detention in Nigeria, More Trouble for Binance?Binance executive escapes Nigerian detention, destination unknown
Read more »
Top Cryptocurrency News Today | Binance SquareRead the top and hottest cryptocurrency and Bitcoin news on Binance Square (formerly Binance Feed).
Read more »
Binance Labs Quietly Transitions to Independent Entity From BinanceCrypto Blog
Read more »
Binance executive escapes Nigerian custody as authorities file new tax chargesOne of two Binance executives detained in Nigeria has escaped custody, while the Nigerian government has filed new tax evasion charges against the exchange.
Read more »
Binance executive escapes Nigerian custody as authorities file new tax chargesOne of two Binance executives detained in Nigeria has escaped custody, while the Nigerian government has filed new tax evasion charges against the exchange.
Read more »
Nigerian court orders Binance to disclose all user dataNigerian court orders Binance to provide EFCC with user data amid allegations of criminal activity. Crypto market manipulation and Naira devaluation cited.
Read more »