Nigeria postpones Binance exec trial to May 17

A Nigerian court has postponed a trial against cryptocurrency exchange Binance and two of its executives.

The trial was expected to begin on May 2, but the judge reportedly postponed the trial until May 17 to allow the legal team to review documents.

According to Reuters, the hearing in the case was postponed after Binance‘s lawyer was not served with documents necessary to advance the money laundering case involving the firm, compliance officer Tigran Gambaryan, and regional manager Nadeem Anjarwalla.

“He was subsequently served in court and the judge adjourned to allow him to scrutinise the more than 300-page document ahead of May 17.”

Binance and its executives are accused of money laundering and engaging in specialized financial activities without a license.

In February, Nigerian law enforcement officers detained Gambaryan and Anjarwalla. In March, the latter escaped from custody and left the country illegally.

On April 8, the court rejected Gambaryan’s defense argument that he should not be held responsible for Binance’s operations in Nigeria. The argument was the educational training conducted by the top manager for local officials as a representative of the exchange.

Gambaryan did not admit guilt and claimed a violation of his rights. As a result of the meeting, he was placed in a high-security detention center. The top manager is accused of tax evasion and laundering $35 million.