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Court Postpones Binance Executive’s Arraignment to April 8 Over Service Dispute

Boom RadioNG | April 4, 2024

The arraignment of Binance Holdings Limited and two individuals by the Economic and Financial Crimes Commission (EFCC) has been adjourned by Justice Emeka Nwite of the Federal High Court in Maitama, Abuja. The court postponed the arraignment to April 8, 2024, to rule on the service of charges on the company.

The EFCC is prosecuting Binance, along with Tigran Gambaryan and Nadeem Anjarwalla, on charges related to tax evasion, currency speculation, and money laundering amounting to $34.4 million.

During Thursday’s session, defense counsel Mark Mordi SAN objected to the arraignment of the second defendant, arguing that proper service had not been made on the first defendant. Mordi stated that his client, the second defendant, was not a representative of the company in Nigeria and therefore could not be served on behalf of the first defendant.

EFCC Arraigns Binance Executive Tigran Gambaryan

However, EFCC counsel Ekele Iheanacho disagreed, asserting that the second defendant was the only physical agent of the company within the jurisdiction. Iheanacho argued that service could be effected through the physical agent, even if the first defendant lacked a physical presence in Nigeria.

After considering the arguments, Justice Nwite adjourned ruling on the matter until April 8, 2024.

Stay tuned for further updates on this legal proceeding.

Written by Boom RadioNG


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