Nigerian court postpones tax evasion trial of Binance
Binance executives accused of facilitating illicit flows, face laundering charges
Binance CEO alleges bribery demands by Nigerian authorities, sparking dispute
A Nigerian court has adjourned a tax evasion case against Binance, the cryptocurrency exchange, until next month. The postponement came after authorities failed to produce Tigran Gambaryan, a Binance executive charged in the case, in court on Wednesday; as reported by Reuters.
Neither Nigerian authorities nor Binance offered an explanation for Gambaryan’s absence. Moses Ideho, a lawyer for the revenue service, said Gambaryan was expected to be brought to court by the Nigerian prison service. Judge Emeka Nwite then set June 14 as the date for the possible arraignment of Binance and Gambaryan.
Gambaryan and another Binance executive, Nadeem Anjarwalla, were detained by Nigerian authorities following an official meeting where Binance was accused of facilitating a $26 billion illicit flow. The executives, whose passports were seized, filed a lawsuit against the Nigerian authorities alleging human rights violations.
The case escalated further when Binance CEO Richard Teng accused Nigerian authorities of demanding a $140 million bribe, a claim the authorities dismissed as a “diversionary tactic.”
Ginger Onwusibe, Chairman of the House of Representatives Committee on Financial Crimes, rejected Teng’s allegations, stating that Binance was attempting to blackmail the authorities. “There were absolutely no solicitations or demands of any kind made by representatives of the Committee towards Binance at any point,” he said.
Binance and its executives face four counts of tax evasion, accused of failing to register with Nigeria’s Federal Inland Revenue Service. They are also charged with laundering more than $35 million, with a trial on those charges scheduled for Thursday.
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