📰 Table Of Contents
Federal High Court Adjourns Binance Tax Evasion Case
According to recent reports, the Nigerian Federal High Court in Abuja has adjourned the tax evasion case involving Binance Holdings Limited and its executive, Tigran Gambaryan. The proceedings were halted due to Gambaryan’s absence from the court.
Case Details
- The Federal Inland Revenue Service (FIRS) brought the case before Justice Emeka Nwite.
- The arraignment, originally scheduled for a specific date, has now been rescheduled for June 14.
Gambaryan’s Absence and Legal Proceedings
During the recent court session, Tigran Gambaryan, reportedly held at Kuje Prison, did not appear for his scheduled arraignment. This absence left both his lawyer and the FIRS prosecuting counsel unaware of his whereabouts.
Judge’s Decision
Justice Emeka Nwite, overseeing the case, denied Gambaryan’s bail application and ordered his remand in custody following new money laundering charges filed by the Economic and Financial Crimes Commission (EFCC).
Lawyers’ Statements
FIRS lawyer Moses Ideho expressed confusion over Gambaryan’s absence and the need for delay in the proceedings. Gambaryan’s lawyer, Chukwuka Ikwuazo, SAN, argued against the stand-down request, emphasizing the importance of Gambaryan’s presence.
Binance CEO’s Response
Binance CEO Richard Teng criticized Nigeria’s approach to the case, claiming it set a dangerous precedent. The company is contesting the charges of tax evasion and money laundering.
Additional Charges and Legal Challenges
- The charges against Binance and its executives include tax evasion and failure to register with Nigeria’s Federal Inland Revenue Service.
- Nadeem Anjarwalla, a British Kenyan and Binance’s regional manager for Africa, is also involved in the case.
Money Laundering Allegations
Binance and its executives face allegations of laundering more than $35 million, as brought by the Nigerian Economic and Financial Crimes Commission (EFCC).
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
