EFCC’s move to open trial with two witnesses against Binance stalls

The Economic and Financial Crimes Commission (EFCC), on Thursday, presented two witnesses in the trial of Binance Holdings Ltd and its two executives at the Federal High Court, Abuja.

EFCC’s lawyer, Ekele Iheanacho, at the beginning of the court session, informed the trial judge, Emeka Nwite, of his plan to call two witnesses.

The News Agency of Nigeria (NAN) reports that the anti-graft had preferred five counts of money laundering against the crypto-currency firm, its top officials; Tigran Gambaryan and Nadeem Anjarwalla (said to be at large).

They were alleged to have conspired amongst themselves to conceal the origin of the financial proceeds of their alleged unlawful activities in Nigeria including $35.4 million, among others.

The commission accused them of committing the offence contrary to section 21 (a) and punishable under Section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022, among others.

However, before arraignment could take place, one of the defendants, Mr Anjarwalla, was reported to have escaped from lawful custody on 22 March and fled Nigeria for Kenya.

The rest of the defendants were later arraigned on 18 April. They pleaded not guilty to the counts.

Mr Gambaryan was ordered to be remanded in Kuje Correctional Centre

The defendant, through his lawyer, Mark Mordi, a Senior Advocate of Nigeria (SAN), applied for a bail, on 23 April, which was opposed by the EFCC.

The judge fixed 17 May for ruling on the bail application.

Argument over trial

Meanwhile, when the matter was called on Thursday, Mr Iheanacho said the matter was scheduled for trial commencement.

“The matter is for commencement of trial and we have two of our witnesses in court today my lord,” Mr Iheanacho told the court.

But Tonye Krukrubo, a SAN, the counsel for Binance Ltd, objected to Mr Iheanacho’s submission.

Mr Krukrubo told the court that his client had not been served with the court documents in the matter.

But the EFCC lawyer responded that all the defendants, including the 1st defendant (Binance), had been duly served and that additional proof of evidence was served on the 1st defendant through the 2nd defendant (Gambaryan) in accordance with the law.

But Mr Krukrubo insisted that he had not been served.

He said a suspect facing criminal proceedings should be afforded the opportunity to defend himself, hence, there should be a proof of service of the documents on his client.

Mr Iheanacho, on his part, restated that the company was served through Mr Gambaryan, who is its agent in Nigeria.

He said the proof of service could be confirmed in the court record.

However, the proof of service could not be found in the court record when the judge directed the registrar to look through the file.

The judge, Mr Nwite, then summoned the bailiff to give his own account on the service of the documents.

The bailiff explained that on 30 April, he was at Kuje Correction Facility to effect the service of the documents on Binance through Mr Gambaryan but he was not allowed to see him.

He said all efforts made were unsuccessful.

The bailiff told the court that the documents were still in his care.

Mr Nwite then ordered Mr Iheanacho to serve Mr Krukrubo with the extra copy of the documents in his possession in the open court.

Mr Krukrubo applied for an adjournment to enable him study the documents ahead of the trial commencement.

The judge, who adjourned the matter until 17 May for trial commencement, advised EFCC to be diligent in the trial.

“It behooves on you, as prosecution, to do all within your power in the trial because I am not going to entertain any delay in this trial again,” Mr Nwite said.

(NAN)