{"id":32422,"date":"2024-05-23T14:32:44","date_gmt":"2024-05-23T14:32:44","guid":{"rendered":"https:\/\/abujacityjournal.com\/livenews\/?p=32422"},"modified":"2024-05-23T14:32:44","modified_gmt":"2024-05-23T14:32:44","slug":"just-in-binance-executive-slumps-in-abuja-during-court-proceedings","status":"publish","type":"post","link":"https:\/\/abujacityjournal.com\/livenews\/2024\/05\/23\/just-in-binance-executive-slumps-in-abuja-during-court-proceedings\/","title":{"rendered":"JUST IN: Binance Executive slumps in Abuja During Court Proceedings"},"content":{"rendered":"

Detained Binance executive, Tigran Gambaryan, slumped before the Federal High Court Abuja during a foreign exchange contravention and money laundering trial by the Economic and Financial Crimes Commission (EFCC).\u00a0<\/span><\/p>\n

According to his lawyer, Mark Mordi (SAN), Gambaryan had not felt too well since the last date of trial.\u00a0<\/span><\/p>\n

Previously, a director at the Security and Exchange Commission (SEC), Abdulkadir Abbas, had told the Federal High Court, Abuja, that the cryptocurrency exchange platform, Binance\u00a0 Limited, used its Naira peer-to-peer (P2P) virtual feature to devalue the Nigerian currency.\u00a0\u00a0<\/span><\/p>\n

Abbas, who identified himself as Director, of Exchanges and Market Infrastructure (SEC), told Justice Emeka Nwite on Friday that the Naira P2P feature deployed by Binance as well as the number of people on the platform \u201cadversely affected the official exchange rate.\u201d\u00a0\u00a0<\/span><\/p>\n

Also, in a recent development the Nigerian government had accused Binance and its executives, Tygran Gambaryan and the fleeing Nadeem Anjarwalla, of allegedly conspiring amongst themselves to conceal the origin of the financial proceeds of their alleged unlawful activities in Nigeria, including $35,400, 000.\u00a0\u00a0<\/span><\/p>\n

The Nigerian authorities said they committed an offense contrary to Section 21 (a) and punishable under Section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022.\u00a0\u00a0<\/span><\/p>\n

The trial commenced last Friday after the judge declined Gambaryan\u2019s bail request.\u00a0\u00a0<\/span><\/p>\n

During the court trial when the matter was called by the court registrar, a lawyer assisted Gambaryan to the dock but despite the assistance, the defendant slumped.\u00a0<\/span><\/p>\n

Mordi then told Justice Emeka Nwite that he had a letter detailing his client\u2019s health conditions.\u00a0<\/span>He asked the court to adjourn so that the defendant could be given adequate medical attention.\u00a0<\/span><\/p>\n

\u201cMy lord, the case may not certainly proceed today,\u201d he added.\u00a0<\/span><\/p>\n

Counsel for the Economic and Financial Crimes Commission (EFCC), Ekele Iheanacho, did not oppose the call for an adjournment.\u00a0<\/span><\/p>\n

Subsequently, the court fixed June 20 and 21 for cross-examination and trial.\u00a0<\/span><\/p>\n

On February 28, Nigerian authorities detained two senior Binance executives, Nadeem Anjarwalla, a 37-year-old British-Kenyan who serves as the regional manager for Africa, and Tigran Gambaryan, a 39-year-old American who is the head of financial crime compliance at Binance.\u00a0<\/span><\/p>\n

\u00a0<\/span><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Detained Binance executive, Tigran Gambaryan, slumped before the Federal High Court Abuja during a foreign exchange contravention and money laundering trial by the Economic and Financial Crimes Commission (EFCC).\u00a0 According to his lawyer, Mark Mordi (SAN), Gambaryan had not felt too well since the last date of trial.\u00a0 Previously, a director at the Security and […]<\/p>\n","protected":false},"author":27,"featured_media":32423,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[],"class_list":["post-32422","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/32422","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/27"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=32422"}],"version-history":[{"count":3,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/32422\/revisions"}],"predecessor-version":[{"id":32426,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/32422\/revisions\/32426"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/32423"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=32422"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=32422"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=32422"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}