Binance, a major cryptocurrency exchange, is facing legal troubles as its executives are set to appear in court in Nigeria. Allegations of money laundering and tax violations have raised concerns about the platform's operations.

Before the trial of two Binance executives, Tigran Gambaryan and Nadeem Anjarwalla, on April 4th at the Abuja Federal High Court in Nigeria, Binance has issued a statement regarding Tigran Gambaryan.

The statement emphasizes Gambaryan's law enforcement background and his role in overseeing compliance matters at Binance. Binance clarifies that Gambaryan does not have decision-making power within the company.

Binance has also stressed that Gambaryan should not be held personally liable for the financial crime charges brought against him, including money laundering and tax evasion accusations by the Economic and Financial Crimes Commission (EFCC) and the Federal Inland Revenue Service (FIRS), respectively.

While discussions are ongoing between Binance and Nigerian officials, the second executive Nadeem Anjarwalla has managed to avoid detention under unclear circumstances, possibly due to his dual nationality of the U.K. and Kenya. It remains uncertain whether Anjarwalla will be present at the trial scheduled for tomorrow.