Economic and Financial Crimes Commission (EFCC) was unable to arraign Binance Ltd, Tigran Gambaryan, and Nadeem Anjarwalla before the Federal High Court in Abuja in a suit marked FHC/ABJ/CR/138/2024.
Gatekeepers News reports that the court, on Thursday, had scheduled for the trio to take their plea in separate suits filed by the Federal Inland Revenue Service (FIRS) and EFCC.
However, the planned arraignment was stalled due to an objection from Gambaryan’s legal team, which insisted that he is not an agent of Binance.
The EFCC has accused the defendants of money laundering and foreign exchange contravention worth $35,400,000.
According to the charge sheet, the EFCC alleged that the defendants concealed the origin of a cumulative sum of $35,400,000 generated as revenue by Binance in Nigeria, knowing that the funds constituted proceeds of unlawful activity.
Some of the counts read: “That you, BINANCE HOLDINGS LTD (A.KA BINANCE”) between January, 2027 and January, 2024 in Abuja within the jurisdiction of this Honourable Court not being an authorized dealer in Nigeria’s Autonomous Foreign Exchange Market used your virtual asset services platform to unlawfully negotiate foreign exchange rates in Nigeria and you thereby committed an offence contrary to and punishable under section 29(1) (C) of the Foreign Exchange (Monitoring And Miscellaneous Provisions) Act.
“That you BlNANCE HOLDINGS LTD (“A.K.A BINANCE”), TIGRAN GAMBARYAN, NADEEM ANJARWALLA (now at large) and other persons at large between January, 2023 and January, 2024 in Abuja within the jurisdiction of this Honourable Court conspired amongst yourselves to conceal the origin of the proceeds of your unlawful activities and thereby committed an offence contrary to section 21 (a) and punishable under section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022.”
During the resumed court session, Gambaryan’s lawyer, Mark Mordi SAN, argued that his client could not take his plea because he refused to accept service on behalf of Binance as he is not authorized by the company to do so.
He cited the Administration of Criminal Justice Act (ACJA), which mandates the EFCC to ensure that Binance is served, and then the company would appoint a representative in writing. Only then can services and processes be served on Binance, he added.
He added, “his client is not an executive of Binance and does not reside in Nigeria to qualify as an agent.”
He explained further,: “The first defendant(Binance) has no physical footprint in Nigeria and does not have an agent in the country.
“I urge my lord to discountenance the submission of the EFCC and adjourn so that they can effect service on Binance.”
EFCC counsel, Ekene Iheanacho however maintained that though there is no physical presence of Binance in Nigeria, Gambaryan is the cryptocurrency platform’s agent in the country.
“This defendant is the only agent of Binance in Nigeria, and he qualifies to be an agent,” he added while faulting the defendant counsel for speaking for Binance.
Justice Emeka Nwite said that given the arguments on the possibility of arraigning Gambaryan by EFCC, he would adjourn for a ruling.
“April 8 for ruling. If the ruling goes in favour of the EFCC, the defendant will take his plea immediately,” the judge said.
The court also ordered that the defendant be remanded at the EFCC custody from where he was brought to the court.
