More
    HomeEcosystem NewsWESTERN AFRICANigeria’s Central Bank Delays Binance Executive’s Trial

    Nigeria’s Central Bank Delays Binance Executive’s Trial

    Published on

    spot_img

    The ongoing legal battle between Binance and the Nigerian government has taken another turn, with the case against Tigran Gambaryan, Binance’s Chief Financial Crime Compliance Officer, being delayed once again.

    Gambaryan, a U.S. citizen and former IRS Special Agent, has been detained in Nigeria for over six months on charges of tax evasion and money laundering, despite having no decision-making authority at Binance. While the tax evasion charges have been dropped, the money laundering allegations persist.

    The latest delay in the case occurred during a hearing on September 2, when the Central Bank of Nigeria (CBN) failed to provide requested documents that would have aided in the cross-examination of its representative. The defense argued that the CBN’s refusal to comply with court orders is a pattern of obstruction.

    In addition to the legal challenges, Gambaryan’s health has continued to decline. He appeared in court on September 2 with a walking stick, having previously relied on a wheelchair. His lawyer, Mark Modi, stated that prison officials had taken away the wheelchair, which has further impacted Gambaryan’s condition.

    The Binance executive’s deteriorating health has prompted his defense team to file a bail application on medical grounds. However, the prosecution has contested this application, arguing that Gambaryan’s health issues are exaggerated.

    The extended detention of Gambaryan has raised concerns among U.S. lawmakers, former prosecutors, and former IRS agents, who have called on the Biden administration to intervene. However, the U.S. government has yet to take any significant action on the case.

    Latest articles

    FINCA Ventures Backs Six African Resilience Tech Startups with Catalytic Capital

    Washington-based impact investor deploys non-dilutive funding to early-stage fintech and agtech ventures facing persistent early-stage funding gaps.

    Township Fibre, Mortgage Tech, and $168M in Domestic Dry Powder

    Four years after spinning out of Ethos PE, the Johannesburg-based firm signals a rare vote of confidence from local pension funds.

    The Secret Antitrust Battle That Helped Sink Koko Networks

    The collapse of Kenya's largest clean-cooking company is blamed on a government refusal to authorise carbon credit sales. A court ruling in Nairobi shows that a competition inquiry into its main supply contract was running alongside that dispute.

    Egypt’s CIB Backs MNT-Halan With $37M Anchor Investment Ahead of IPO

    The country’s largest private bank commits EGP 2bn to the upcoming Cairo stock market listing.

    More like this

    FINCA Ventures Backs Six African Resilience Tech Startups with Catalytic Capital

    Washington-based impact investor deploys non-dilutive funding to early-stage fintech and agtech ventures facing persistent early-stage funding gaps.

    Township Fibre, Mortgage Tech, and $168M in Domestic Dry Powder

    Four years after spinning out of Ethos PE, the Johannesburg-based firm signals a rare vote of confidence from local pension funds.

    The Secret Antitrust Battle That Helped Sink Koko Networks

    The collapse of Kenya's largest clean-cooking company is blamed on a government refusal to authorise carbon credit sales. A court ruling in Nairobi shows that a competition inquiry into its main supply contract was running alongside that dispute.