Arraignment Of Binance Executive Stalled

A Federal High Court in Abuja has adjourned the money laundering suit against Binance and its officials till April 8.

The trial judge, Justice Emeka Nwite, adjourned the matter for ruling after listening to parties’ submission on the service of the charge on Binance Holdings Limited.

The defendants; Binance Holdings Limited and Tigran Gambaryan, were meant to be arraigned on Thursday but it was stalled following objection from the counsel for the second defendant, Mark Mordi, (SAN).

Mordi contended that his client cannot be arraigned following the failure of the Economic and Financial Crimes Commission to perfect service on Binance Holdings Limited.

He noted that his client was not an agent, director or representative of the company in the country and as such could not be serve on behalf of the first defeandant.

But the counsel for the EFCC, E.E. Iheanacho, disagreed with him.

He noted that the second respondent is a representative of first defendant in the country, adding that the charge was severed on him on behalf of the company but rejected it.

Iheanacho said It was not the position of the counsel for the second defendant to argue for the first defendant.

He urged the court to enter a plea of not guilty for the first defendant and continue with the proceedings.