Binance, a prominent cryptocurrency exchange, faces legal troubles in Nigeria, where its executives are due to appear in court on April 4th. The company is under investigation for alleged money laundering and tax violations, which have raised concerns about its operations.

Binance Issues Pre-Trial Statement

Ahead of the trial of Binance's executives, Tigran Gambaryan and Nadeem Anjarwalla, Binance has released a statement defending Gambaryan's role in the company. Gambaryan, with a background in law enforcement, is responsible for overseeing compliance matters at Binance, but he does not hold any decision-making power.

Binance's statement emphasizes that Gambaryan should not be held personally responsible for the financial crime charges, including money laundering and tax evasion, leveled against him.

The Economic and Financial Crimes Commission (EFCC) and the Federal Inland Revenue Service (FIRS) have filed separate charges against the executives. The EFCC alleges that Gambaryan and Anjarwalla laundered approximately $35.4 million, while the FIRS accuses them of tax evasion.

Binance Engages in Talks with Nigerian Government

Binance is currently in discussions with Nigerian government officials regarding the allegations. However, the second executive, Nadeem Anjarwalla, has evaded arrest under mysterious circumstances, possibly due to his dual citizenship in the U.K. and Kenya. It remains to be seen whether Anjarwalla will attend the trial on April 4th.