Nigerian court frustrated in Binance trial adjournment

A Nigerian court has postponed the money laundering trial against cryptocurrency exchange Binance and two of its executives until October 11th.

The delay comes amidst the court’s annual vacation and ongoing concerns about the health of a detained executive.

Binance, along with Tigran Gambaryan (head of financial crimes compliance) and Nadeem Anjarwalla (regional manager for Africa), face accusations of laundering over $35 million and operating without proper licensing.

All parties have pleaded not guilty. Gambaryan, who appeared in court using a wheelchair, has been unable to participate fully in the proceedings since May due to health issues. Binance previously reported he suffered from malaria and pneumonia.

The trial judge, Emeka Nwite, expressed frustration with the lack of a court-ordered medical report for Gambaryan.

Despite his orders, the hospital where Gambaryan received treatment has not released the documents.

In response, Judge Nwite issued a warrant for the hospital director’s arrest and mandated Gambaryan’s hospitalization for 24 hours “for emphasis” on proper medical care.

Last month, U.S. lawmakers pressured the American embassy in Nigeria to advocate for Gambaryan’s release on humanitarian grounds due to his deteriorating health.

He has been detained since February. Binance has not yet commented on the situation but maintains their innocence regarding all charges.

The Nigerian government previously blamed Binance for contributing to the country’s currency struggles.

Crypto platforms became popular for trading the Nigerian naira as the nation faced chronic dollar shortages and a plummeting currency.

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