The senior Binance U.S. executive has pleaded not guilty to money laundering charges before a Nigerian Federal High Court in the country’s capital. The government has initiated its case against the cryptocurrency exchange.
Gambaryan’s lawyer argued that his client should not be held liable for the actions of Binance Holdings Limited, claiming that prosecutors failed to serve the company properly. However, attorneys for Nigeria’s Economic and Financial Crimes Commission (EFCC) said constitutional provisions allowed the prosecution of company executives.
Justice Emeka Nwite ruled that federal prosecutors were within legal conduct, noting that a magistrate court dismissed previous objections to the case. Following the ruling, Gambaryan was remanded to the Kuje correctional center, and the court adjourned until April 18 to decide on his bail request.
Allegations that Binance allowed users to tamper with forex rates seem to have subsided, but Nigerian officials proceeded with other charges. Crypto.news reported that Interpol was engaged over an international arrest warrant for the Binance employee.
