EFCC Arraigns Binance Executive For ‘Money Laundering’

The Economic and Financial Crimes Commission has arraigned Binance Holdings Limited, a cryptocurrency firm, and Tigran Gambaryan, the company’s head of financial crime compliance, over allegations of money laundering.

Naija News reports that the anti-graft agency arraigned the company and its executive on a five-count charge before Emeka Nwite, a judge of the federal high court in Abuja.

In a related development, a Federal High Court in Abuja has remanded Gambaryan, in Kuje Correctional Centre, pending the determination of his bail application.

The trial judge, Justice Emeka Nwite, gave the order after Gambaryan pleaded not guilty to the money laundering charges preferred against him by the Economic and Financial Crimes Commission on Monday.

The judge subsequently adjourned the matter till April 18 for the ruling on his bail application and May 2 for commencement of trial.