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Binance executive pleads not guilty to money laundering charges, remanded in Kuje prison



The detained executive of cryptocurrency firm, Binance Holdings Limited, Tigran Gambaryan, on Monday, pleaded not guilty to the money laundering charges preferred against him by the Economic and Financial Crimes Commission (EFCC).

Gambaryan was arraigned by the EFCC on charges of laundering $35,400,000 before Justice Emeka Nwite of the Federal High Court in Abuja in the absence of Nadeem Anjarwalla who had escaped from custody and fled the country.

The cryptocurrency giant was also arraigned alongside Gambaryan on a five-count charge by the EFCC but when the charges were read to the accused, Gambaryan pleaded not guilty while a plea of not guilty was also entered for the company by it’s legal representatives.

However, Justice Nwite, while delivering judgement, ordered that the Binance executive should be remanded in Kuje prison pending hearing of his bail application on April 18, while the matter has been adjourned to May 2 for commencement of trial

The duo of Gambaryan and Anjarwalla were on February 28, arrested and detained by the EFCC on the orders of the Nigerian authorities.

But Anjarwalla, an Executive Director with the firm, was to escape from the custody of the office of the National Security Adviser (ONSA), which prompted the Nigerian government to enter into an arrangement with the International Police for his arrest and extradition back to the country. This is yet to be effected.

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