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April 4, 2024
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BREAKING: Arraignment of Binance executive delayed

In a recent development at the Federal High Court in Abuja, the money laundering case involving Binance and its officials has encountered a delay, with the trial now adjourned until April 8.

The decision to postpone proceedings came after Justice Emeka Nwite, the trial judge, heard arguments from both sides regarding the service of the charge on Binance Holdings Limited. Following these submissions, Justice Nwite opted to adjourn the matter to consider his ruling.

Originally scheduled for arraignment on Thursday, the process was halted due to objections raised by Mark Mordi, representing the second defendant, Tigran Gambaryan. Mordi argued that his client could not be properly arraigned due to the Economic and Financial Crimes Commission’s failure to serve the charge on Binance Holdings Limited.

Highlighting that his client was neither an agent, director, nor representative of the company in the country, Mordi contended that he could not accept service on behalf of the first defendant.

However, the EFCC’s counsel, E.E. Iheanacho, contested Mordi’s stance. Iheanacho asserted that the second respondent acted as a representative of the first defendant in the country, indicating that the charge had been served on him on behalf of the company, albeit unsuccessfully.

Disagreeing with Mordi’s objection, Iheanacho urged the court to proceed by entering a plea of not guilty for the first defendant and to continue with the proceedings, emphasizing that it was not within the purview of the second defendant’s counsel to argue on behalf of the first defendant.

As the case unfolds, further developments are anticipated, shaping the trajectory of this high-profile legal battle.

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