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Delay in the Arraignment of Binance Executive



The scheduled arraignment of Binance and its officials in a money laundering case at the Federal High Court in Abuja has been postponed till April 8.

Justice Emeka Nwite, the trial judge, has deferred the matter for ruling following arguments presented by the parties regarding the service of the charge on Binance Holdings Limited.

Initially set for Thursday, the arraignment of the defendants; Binance Holdings Limited and Tigran Gambaryan, was halted due to objections raised by Mark Mordi, the counsel for the second defendant.

Mordi argued that his client cannot be brought before the court as the Economic and Financial Crimes Commission failed to properly serve Binance Holdings Limited.

He emphasized that his client does not hold a position of authority within the company in the country and, therefore, cannot accept service on behalf of the first defendant.

However, the EFCC’s counsel, E.E. Iheanacho, expressed a differing opinion, stating that the second respondent acts as a representative of the first defendant in the country and was served the charge on behalf of the company despite rejecting it.

Iheanacho pointed out that it was not within the jurisdiction of the second defendant’s counsel to argue for the first defendant, urging the court to proceed by entering a plea of not guilty for the first defendant and continuing with the legal process.

Further details will be provided later…