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The post <a href="https://coinpedia.org/news/binance-executive-fails-to-appear-in-court-concerns-about-physical-well-being-grow/">Where is Binance Exec Tigran Gambaryan? Absence in Nigerian Court Raises Alarms</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
The tax evasion trial of <a href="https://coinpedia.org/news/nigerian-court-denies-bail-to-binance-executive-tigran-gambaryan-amid-money-laundering-charges/" target="_blank" rel="noreferrer noopener">Binance executive Tigran Gambaryan</a>, being held in Nigeria, took an unexpected turn when he failed to show up in court. This time, it raised concerns about his physical safety, given the notorious conditions of Kuje prison, where he is being held. 
<h2 class="wp-block-heading" id="h-charges-and-allegations">Charges and Allegations</h2> 
<a href="https://coinpedia.org/news/u-s-state-department-investigates-after-binance-executive-detained-in-nigeria/" target="_blank" rel="noreferrer noopener">Nigerian</a> Federal Inland Revenue Service has charged Binance and its executives, including Gambaryan and Nadeem Anjarwalla, over allegations of tax evasion. The charges are based on accusations that Binance did not register with FIRS and issue the necessary invoices for services on its platform that would attract taxes, thus evading significant taxes. 
Courtroom Drama 
The trial, initially scheduled for May 22, was adjourned to June 14 after Gambaryan failed to appear. Prosecutor Moses Idehu expressed frustration over the prison service’s failure to produce Gambaryan, highlighting the ongoing embarrassment for the Nigerian government. Defense counsel Chukwuka Ikwuazo (SAN) requested the adjournment, assuring the court that Gambaryan would be present at the next hearing. 
Gambaryan is being held in Kuje prison, known for its poor living conditions and security breaches, including an attack by Islamic militants in 2022. His absence in court has raised concerns about his safety and well-being. The harsh conditions in Kuje prison bring serious questions about his treatment and health. 
<h2 class="wp-block-heading" id="h-crypto-regulation-understanding-the-implications">Crypto Regulation: Understanding the Implications</h2> 
This trial is part of a larger crackdown on cryptocurrency activities in Nigeria. Binance faces a four-count charge for not registering with the FIRS and evading taxes. Additionally, Gambaryan and Anjarwalla are accused of laundering over $35 million, with a separate money laundering trial pending. 
The court has adjourned the case to June 14 for the possible arraignment of Binance and Gambaryan. As the trial progresses, concerns about Gambaryan’s safety and the broader implications for <a href="https://coinpedia.org/cryptocurrency-regulation/crypto-regulation-in-nigeria-in-2024/">cryptocurrency regulation in Nigeria</a> are increasing. 
<h2 class="wp-block-heading" id="h-binance-ceo-speaks-out">Binance CEO Speaks Out</h2> 
Meanwhile, <a href="https://coinpedia.org/news/binance-ceo-richard-teng-tells-nigerian-government-to-release-tigran-gambaryan/" target="_blank" rel="noreferrer noopener">Binance’s CEO</a> Richard Teng has attacked Nigeria’s approach, stating, 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 “The detention of executives at the invitation of the country’s government sets a dangerous precedent.” 
</blockquote> 
 Binance has been actively working with the relevant authorities in Nigeria to address these issues and ensure compliance with local regulations. 
With Gambaryan’s absence and safety concerns, this tax evasion trial has become much more than just a numbers game. What next? Stay tuned.

Where is Binance Exec Tigran Gambaryan? Absence in Nigerian Court Raises Alarms

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