The Federal High Court has moved up the hearing date for the money laundering case against cryptocurrency exchange Binance and two of its executives. Originally set for October 11, the case will now be heard on September 2, following a request from defense lawyers, according to a report from Reuters.
Binance, along with its U.S. citizen head of financial crime compliance, Tigan Gambaryan, and British-Kenyan regional manager for Africa, Nadeem Anjarwalla, are accused of laundering over $35 million. The world’s largest cryptocurrency exchange also faces charges of tax evasion. While both Binance and Gambaryan deny the allegations, Anjarwalla fled Nigeria before the trial began.
Gambaryan has been in detention in Nigeria since February, and his health has reportedly deteriorated during his imprisonment, according to his wife, Yuki Gambaryan. She has appealed to both the Nigerian and U.S. governments to secure her husband’s release on health grounds.
Nigeria has criticized Binance for contributing to the country’s currency weakness, as cryptocurrency platforms have become popular for trading the naira amid chronic dollar shortages, leading to the currency hitting a record low. In March, Binance announced it would cease all naira transactions following a nationwide crackdown on crypto exchanges accused of fueling a black market for foreign exchange.
In July, Gambaryan was brought into court in a wheelchair, though he later stood and walked into the dock. The Economic and Financial Crimes Commission (EFCC) has been prosecuting the case, with EFCC lawyer Ogechi Ujam requesting a delay in the trial to accommodate the absence of lead counsel Ekele Iheanacho. The court agreed to the request, and the trial was temporarily paused.
Justice Emeka Nwite, who is presiding over the case, had earlier ordered the Nigerian Correctional Service to provide Gambaryan’s medical records by July 16, following an application by Gambaryan’s lawyer, Mark Mordi. Mordi had previously requested that the court summon the medical doctor from Kuje Correctional Centre to explain why Gambaryan’s medical report had not been provided, despite a court order.
