Nigerian Court Postpones Binance Executives' Money Laundering Trial to July 5

IconCryptoNewsTerminal Staff02 Jul, 2024

cryptonews.jpg

Nigerian Court Postpones Binance Executives' Money Laundering Trial to July 5

Binance, the world's largest cryptocurrency exchange, and two of its executives are facing money laundering charges in a Nigerian court. The trial was adjourned to July 5th after one of the executives, Tigran Gambaryan, fell ill and was unable to attend the hearing. Gambaryan is the head of financial crime compliance at Binance and is accused of money laundering, along with the company's CEO, Changpeng Zhao. The Securities and Exchange Commission (SEC) has accused Binance of illegally operating in Nigeria and of failing to register with the commission. Binance has denied the allegations. The trial is expected to resume on July 5th. If convicted, the executives could face up to 14 years in prison.

Related News