The money laundering case involving Binance Holdings Limited and its executive has been rescheduled for April 8 by a Federal High Court in Abuja. After hearing arguments from both sides, Justice Emeka Nwite postponed the hearings to decide whether to charge Binance Holdings Limited. The arraignment of the defendants, Binance Holdings Limited and Tigran Gambaryan, on five counts of money laundering was postponed because of objections from Mark Mordi, the second defendant's attorney.
Binance, Nadeem Anjarwalla, and Gambaryan are accused by the Economic and Financial Crimes Commission (EFCC) of hiding the source of $35,400,000 that Binance made in Nigeria between January 2023 and December 2023, which is considered the profits of illegal activity. Because the EFCC had not yet served Binance Holdings Limited with the complaint, Mordi contended, his client could not be charged.
E.E. Iheanacho, the attorney for the EFCC, refuted Mordi's claim, claiming that the second defendant had been served with the accusation and was acting as a representative of the first defendant in the nation. He suggested that the trial be conducted in accordance with Section 478 of the Administration of Criminal Justice Act 2015, with the second defendant entering a not-guilty plea. Mordi emphasised the necessity for adequate service as required by Section 477 of the Act, arguing that his client was not authorised by the corporation to accept the charge on its behalf.