The court ordered the remand of the Binance top executive after his arraignment on money laundering charges and postponing the hearing of his bail application for 11 days.
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Mr Nwite issued the remand order after the defendant’s arraignment on five counts of money laundering on Monday. Mr Gambaryan’s lawyer, Mark Mordi, a Senior Advocate of Nigeria , had contested that Binance as a corporate entity must be served the charges either in person or by substituted means for an arraignment to take place.
The lawyer recalled that Mr Gambaryan had been held for upward of 40 days against statutory provisions. The judge then postponed the hearing of the bail application until 18 April and fixed 2 May for commencement of trial.In a separate case instituted by the Federal Inland Revenue Service , the prosecution accused Binance and its executives of tax frauds.
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