Court to arraign Binance executives Tigran, Nadeem for money laundering
On Thursday, Binance executives Tigran Gambaryan and Nadeem Anjarwalla are scheduled to be arraigned before the Abuja Federal High Court. Before Justice Emeka Nwite, Gambaryan and Anjarwalla will face two distinct charges.
There are five counts in the one that the Economic and Financial Crimes Commission, or EFCC, filed about money laundering. Four charges total in the other indictment, which was brought by the Federal Inland Revenue Service (FIRS), accused them of various tax offences.
The March 22 escapee Anjarwalla will appear in absentia before Justice Nwite for his arraignment.
The EFCC charged Binance executives on March 28 for allegedly laundering over $35,400,000. According to count one of the allegations, the defendants are accused of doing other financial institutions' specialist activity in Abuja between January 2023 and January 2024 without a licence.
The Banks and Other Financial Institutions Act (BOFIA) 2020's Sections 57(1) and (2) are violated by the act, according to the EFCC, and it is punishable under Section 57(5) of the same Act.
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