Reported by Abiodun Sanusi

The Economic and Financial Crimes Commission will on Thursday arraign Binance Holdings Limited and two of its senior executives, Tigran Gambaryan and Nadeem Anjarwalla, who recently escaped from custody and fled Nigeria, over an alleged $35,400,000 money laundering case.

The EFCC had on Thursday, March 28, charged Binance Holdings Limited, Gambaryan, Anjarwalla with laundering $35,400,000.

The EFCC, which has now fully taken over the case from the Office of the National Security Adviser, has also detained Gambaryan and has obtained a court warrant to arrest and extradite Anjarwalla.

Confirming the development to our correspondent on Friday, impeccable sources in the anti-graft agency said that Anjarwalla would be arraigned in absentia alongside Binance and Gambaryan.

“The detained Binance executive, Gambaryan, is now in the custody of the EFCC. The NSA has handed over the matter to the EFCC for investigation and prosecution. The commission has charged Binance, Gambaryan, and Anjarwalla to court for $35,400,000 money laundering, and they’ll be arraigned in court on Thursday, April 4, 2024,” a source told Sunday PUNCH.

Another source revealed, “The EFCC is now partnering with the International Criminal Police Organisation, the United States’ Federal Bureau of Investigation, the government of the United Kingdom of Great Britain and Northern Ireland, and the Kenyan government to effect the arrest and extradition of Mr Anjarwalla, the fugitive who fled from lawful custody in Nigeria.”

Following the takeover of the investigation into the financial irregularities allegedly committed by Binance, the EFCC has filed five counts bordering on money laundering against the cryptocurrency firm and two of its executives, Anjarwalla and Gambaryan, Sunday PUNCH can confirm.

The court documents exclusively obtained by our correspondent revealed that the charges were filed on Thursday, March 28, 2024, before the Federal High Court of Nigeria, Abuja division.

The charges read, “That you, Binance Holdings Limited (aka Binance), Tigran Gambaryan, and Nadeem Anjarwalla (now at large), between January 2023 and January 2024 in Abuja within the jurisdiction of this honourable court carried on specialised business of other financial institution without (a) valid licence and thereby committed an offence contrary to Section 57(1) and (2) of the Banks and Other Financial, Institutions Act, 2020 and punishable under Section 57(5) of the same Act.

 “Count two: That you, Binance Holdings Limited (aka Binance), Tigran Gambaryan, and Nadeem Anjarwalla (now at large), between January 2022 and January 2024 in Abuja within the jurisdiction of this honourable court engaged in (the) business of other financial institution (other than insurance, stockbroking and pension fund management) without (a) valid licence and thereby committed an offence contrary to and punishable under Section 58(5) of the Banks and Other Financial Institutions Act, 2020.

 “Count three: That you, Binance Holdings Limited (aka Binance) between January 2022 and January 2024 in Abuja within the jurisdiction of this honourable court, not being an authorised dealer in Nigeria’s Autonomous Foreign Exchange Market, used your virtual asset services platform to unlawfully negotiate foreign exchange rates in Nigeria and you thereby committed an offence contrary to and punishable under Section 29(1) (c) of the Foreign Exchange (Monitoring And Miscellaneous Provisions) Act.

“Count four: That you, Binance Holdings Limited (aka Binance), Tigran Gambaryan, and Nadeem Anjarwalla (now at large), and other persons at large, between January 2023 and January 2024 in Abuja within the jurisdiction of this honourable court, conspired among yourselves to conceal the origin of the proceeds of your unlawful activities and thereby committed an offence contrary to Section 21 (a) and punishable under Section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022.

“Count five: That you, Binance Holdings Limited (aka Binance), Tigran Gambaryan, and Nadeem Anjarwalla, between January 2023 and December 2023 in Abuja within the jurisdiction of this honourable court concealed the origin of a cumulative sum of $35,400, 000 generated as revenue by Binance in Nigeria knowing that the funds constituted proceeds of unlawful activity and you thereby committed an offence contrary to and punishable under Section 18(3) of the Money Laundering (Prevention and prohibition) Act, 2022.”

Read full report: https://punchng.com/efcc-arraigns-binance-chiefs-thursday-gets-arrest-warrant/?amp