Money Laundering Suit Against Binance Adjourned Till April 8

A Federal High Court in Abuja has postponed the money laundering case involving Binance and its officials until April 8. The trial judge, Justice Emeka Nwite, deferred the matter for ruling after hearing arguments regarding the service of the charge on Binance Holdings Limited.

The defendants, Binance Holdings Limited and Tigran Gambaryan, were scheduled for arraignment on Thursday, but the proceedings were halted due to objections raised by the counsel for the second defendant, Mark Mordi (SAN). Mordi argued that his client could not be arraigned because the Economic and Financial Crimes Commission (EFCC) had not properly served the charge on Binance Holdings Limited.

Mordi clarified that his client, Gambaryan, was not an agent, director, or representative of the company in Nigeria, and therefore could not accept service on behalf of the first defendant.

In response, the EFCC’s counsel, E.E. Iheanacho, disagreed with Mordi’s assertion. Iheanacho argued that Gambaryan acted as a representative of Binance Holdings Limited in the country, and although the charge was served on him on behalf of the company, he rejected it.

Iheanacho emphasized that it was not within Mordi’s purview to argue for the first defendant and urged the court to enter a plea of not guilty for Binance Holdings Limited and proceed with the proceedings.

The adjournment allows the court time to deliberate on the issue of service and make a ruling before further proceedings. More details on the case are expected to emerge as the legal process unfolds.

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