Binance executives to be arraigned at Federal High Court for money laundering, other charges

The Federal High Court in Abuja has scheduled the arraignment of Binance Holdings Limited and two of its executives – Tigran Gambaryan and Nadeem Anjarwalla – for Thursday, 04 April. Anjarwalla, who escaped from lawful custody on March 22, and Gambaryan will be arraigned before Justice Emeka Nwite on two separate charges. The one filed by EFCC, bordering money laundering, has five counts. The other, by the Federal Inland Revenue Service (FIRS), has four counts, in which they were accused of sundry tax infractions. Anjarwalla will be arraigned in absentia. In the charge by the EFCC, filed on March 28, the defendants are accused, among others, of laundering about $35,400,000. In count one of the charges, the defendants are alleged to have, between January 2023 and January 2024 in Abuja, carried out the specialized business of other financial institutions without a valid licence. The EFCC said the act constitutes an offence contrary to Section 57(1) and (2) of the Banks and Other Financial Institutions Act (BOFIA) 2020 and is punishable under Section 57(5) of the same Act.