2024

April

The Nigerian Federal Inland Revenue Service (FIRS) has accused the Nigerian Correctional Service of failing to present Binance executive Tigran Gambaryan at the Federal High Court in Abuja for his tax evasion case.
<a href="https://nairametrics.com/2024/05/22/tax-evasion-firs-blames-nigeria-correctional-service-for-failing-to-produce-binance-executive-in-court-for-arraignment/" target="_blank" rel="noopener nofollow">According</a> to local media, Gambaryan failed to appear in court on May 22 for arraignment on tax evasion charges brought by the FIRS.
In court, prosecution counsel Moses Idehu expressed uncertainty about the detained executive’s absence, who was expected to be brought from custody. He revealed that attempts to contact the officials at the correctional center had been unsuccessful.
Idehu requested a brief stand-down of the case, seeking to temporarily adjourn the matter to later in the day to resolve the issue. However, Judge Emeka Nwite postponed Gambaryan’s arraignment to June 14.
Counsel for Binance, T.J. Krukrubo, protested the prosecution’s failure to present his client. 
Gambaryan’s lawyer, Chukwuka Ikwuazo, took the opportunity to request the judge to instruct FIRS to remove the name of the co-defendant, Nadeem Anjarwalla, from the amended charges, as he has been declared “at large.”
The FIRS lawyer consented to removing Anjarwalla’s name from the charge sheet. 
Related: <a href="https://cointelegraph.com/news/binance-us-wins-florida-license-appeal">Binance.US wins appeal to reinstate Florida money services license</a>
Gambaryan was&nbsp;<a href="https://cointelegraph.com/news/binance-exec-pleads-not-guilty-nigeria">transferred to the Kuje Correctional Centre</a>&nbsp;in Abuja in April 2024 after pleading not guilty to money laundering charges brought against him by the Economic and Financial Crime Commission. 
His <a href="https://cointelegraph.com/news/binance-bail-nigeria-money-laundering-trial">bail application was denied</a>, and he remains in detention. The charges relate to concealing the source of funds generated by Binance in Nigeria, totaling $35.4 million.
In March, the FIRS <a href="https://cointelegraph.com/news/binance-tax-evasion-trial-moved-to-may-17-in-nigeria">filed tax evasion charges</a> against Binance and its executives, Gambaryan and Anjarwalla. The charges included failure to register with the FIRS, failure to pay company income tax, failure to pay value-added tax and facilitating tax evasion.
The Nigerian government has accused the cryptocurrency exchange of&nbsp;<a href="https://cointelegraph.com/news/nigerian-government-blames-binance-for-its-own-mismanagement">influencing foreign exchange rates</a>, resulting in stricter oversight of crypto trading platforms.
Nigerian authorities <a href="https://cointelegraph.com/news/binance-tigran-gambaryan-detained-nigeria">detained</a>&nbsp;Anjarwalla, Binance’s Kenya-based regional manager for Africa, and Gambaryan, a former cryptocurrency-focused United States federal agent and head of Binance’s criminal investigations team, on Feb. 28.
Magazine: <a href="https://cointelegraph.com/magazine/cleaning-crypto-how-much-enforcement-needed/">Cleaning up crypto: How much enforcement is too much?</a>

Nigerian prison fails to bring Binance exec to court

Cointelegraph

Other articles published on May 23, 2024

Shiba Inu Releases 25th Shib Magazine Edition Offering Free NFTs

Pepe Price Soars 35% In A Week As Experts Say This Chain-Travelling Dogecoin Derivative Might Be ...

Hong Kong Considers to Allow Staking in Ether ETFs

Revolutionary ScoringFi Initiative Shakes Up Blockchain with Explosive Presale Success

BONK soars 16%, outshines SHIB and DOGE

Andre Cronje Leads Sonic Network Launch

Join our free newsletter for daily crypto updates!