In a surprising turn of events, the Federal Government has dropped tax evasion charges against Binance executives, bringing relief to the cryptocurrency exchange giant. The decision, made by the Federal High Court in Abuja, cleared Tigran Gambaryan and Nadeem Anjarwalla of the allegations filed by the Federal Inland Revenue Service.
The FIRS’s revised charges dropped tax evasion claims against Gambaryan and his colleague, who fled to Kenya. This followed Binance appointing Ayodele Omotilewa to manage its Nigeria operations. Initially charged with tax evasion in March 2024, Binance and Gambaryan faced legal issues.However, with the latest court ruling, Binance expressed gratitude for the FIRS’ professionalism and diligence in handling the matter.
Binance Executives
The crypto exchange emphasized that Gambaryan, not being a decision-maker at Binance, should be allowed to return home, especially considering his deteriorating health after 110 days of detention. Despite facing challenges, Binance remains committed to cooperating with the Nigerian government transparently to resolve any outstanding issues.
The next court hearing is on June 19th to discuss rights enforcement, with the EFCC trial continuing on June 20th as Tigran remains in Kuje prison. The international community, including 16 US Congress members, has called on President Biden to secure his release.
The Federal Government’s charges against Binance, such as FX manipulation and money laundering, have heightened scrutiny on crypto platforms. Binance executives hope for a quick resolution to refocus on operations and commitment to compliance.
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