The bail hearing of Binance executive Tigran Gambaryan, who faces money laundering charges in Nigeria, has been delayed yet again.

What Happened: Gambaryan, a U.S. national, was scheduled to apply for conditional release Thursday next week, DL News reported. However, due to administrative errors, the hearing was postponed, and Gambaryan was sent back to his cell until Monday at the earliest.

Gambaryan has refuted allegations of involvement in a $35 million money laundering operation, a charge brought forward by Nigeria’s anti-corruption body, the Economic and Financial Crimes Commission (EFCC).

Justice Emeka Nwite deferred the bail hearing after the EFCC’s attorney requested additional time to respond to new documents submitted by Gambaryan’s legal team. The EFCC had earlier contested Gambaryan’s bail plea during the initial hearing on April 8.

The trial for Gambaryan is scheduled to start on May 2.

Also Read: Nigeria Detains Binance Execs, Demands Top 100 Users’ Data: Is Crypto Destabilizing The Naira?

Why It Matters: Binance, the world’s largest crypto exchange, is also under scrutiny for money laundering and tax evasion charges but has not yet issued a response.

The ongoing legal issues for Binance in Nigeria began in March when the country’s authorities detained two high-ranking Binance officials and demanded detailed transaction histories of the exchange’s top 100 Nigerian users.

In a related incident, Nadeem Anjarwalla, a senior Binance executive, escaped from Nigeria to avoid prosecution for tax evasion charges.

What's Next: These topics are expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.

Read Next: Binance Executive Flees Nigeria To Avoid Tax Evasion Prosecution

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