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 amended charges, submitted by the FIRS, effectively erased the tax evasion claims against Gambaryan and his colleague who had fled to Kenya. This significant development followed Binance’s appointment of a Nigerian representative, Ayodele Omotilewa, to oversee its local operations.Initially accused of tax evasion in March 2024, Binance and Gambaryan found themselves in legal turmoil. 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 scheduled for June 19th, where fundamental rights enforcement will be discussed, while the EFCC trial continues on June 20th with Tigran still in detention at Kuje prison. The international community has taken notice of Tigran’s plight, with 16 US Members of Congress urging President Biden to intervene and secure his release. The Federal Government’s accusations against Binance, including FX rate manipulation and money laundering, have intensified the scrutiny on crypto trading platforms.As the legal saga unfolds, Binance executives are hopeful for a swift resolution that will allow them to focus on their operations and continue their commitment to compliance and transparency. Stay tuned for more updates on this developing story. For more engaging content and insightful news, visit eblackmedia.com where we bring you the latest stories shaping the digital landscape. Join us in exploring the dynamic world of technology, business, and innovation.
