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Nigerian court adjourns Binance, executives' tax evasion trial to June 14

 

A Nigerian court has postponed the tax evasion case against Binance to next month, awaiting the potential arraignment of the cryptocurrency exchange and two of its executives. The trial stalled on Wednesday due to the absence of Tigran Gambaryan, Binance's head of financial crime compliance, who is a U.S. citizen. The authorities did not provide a reason for his absence.

Last Friday, an Abuja court ruled that Gambaryan could be tried in the tax evasion case representing Binance. Binance CEO Richard Teng has criticized Nigeria for what he describes as a dangerous precedent after the detention of its executives during a visit to the country. Binance is disputing the charges of tax evasion and money laundering.

Binance, along with Gambaryan and Nadeem Anjarwalla, Binance's regional manager for Africa, face four charges of tax evasion, including failing to register with Nigeria's Federal Inland Revenue Service. Anjarwalla, a British-Kenyan, escaped custody in March but remains a part of the case. His absence could delay proceedings, as Nigerian law requires all parties to be served before a case can continue, according to Gambaryan's lawyer, Chukwuka Ikwuazom.

Moses Ideho, the revenue service's lawyer, stated that Gambaryan was supposed to be brought to court by Nigeria's prison service and was unaware of the reason for his absence.

Judge Emeka Nwite has rescheduled the possible arraignment of Binance and Gambaryan to June 14.

Besides the tax evasion charges, Binance and the executives are also accused of laundering over $35 million by Nigeria's Economic and Financial Crimes Commission (EFCC), with a money laundering trial set for Thursday. Binance has indicated it is cooperating with Nigerian authorities following Gambaryan's detention.


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