The Economic and Financial Crimes Commission (EFCC) has amended the $35.4 million money laundering charges filed against Binance Holdings Limited.
EFCC’s counsel, Ekele Iheanacho, SAN, informed Justice Emeka Nwite of the Federal High Court, Abuja, of the agency’s decision to revise the charges on Monday, November 25. This followed the discharge of Tigran Gambaryan, previously named as the second defendant.
The amendment aligns with a court directive aimed at ensuring clarity in the case documents. Okiemute Okwakwa, counsel representing Binance, did not oppose the application.
Justice Nwite, in response, allowed the amended six-count charge, marked FHC/ABJ/CR/138/2024, to proceed. A not-guilty plea was entered on behalf of Binance as per Section 478 of the Administration of Criminal Justice Act (ACJA), 2015.
The case was adjourned to February 24 and 25, 2025, for the continuation of the trial.
The amended charges allege that Binance, along with individuals now at large, engaged in unlicensed financial operations, including virtual asset services and foreign exchange transactions, from January 2023 to January 2024.
Specific counts accuse the firm of concealing the origin of $35.4 million in proceeds from unlawful activities, violating provisions under the Money Laundering (Prevention and Prohibition) Act, 2022.
This development follows Justice Nwite’s earlier order on October 23 for the release of Gambaryan from custody, after the Federal Government decided to drop charges against him.
Binance remains the sole defendant in the revised case as the EFCC continues its prosecution.
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