Concerns Arise as Binance Executive Tigran Gambaryan’s Whereabouts Unknown during Nigerian Court Hearing
Binance Executive’s Tax Evasion Trial in Nigeria Postponed Amid Safety Concerns
The tax evasion trial of Binance executive Tigran Gambaryan has taken an unexpected turn in Nigeria as he failed to appear in court, raising concerns about his safety. The trial, which revolves around allegations of tax evasion and money laundering, has been postponed to June 14.
Gambaryan, along with other Binance executives, including Nadeem Anjarwalla, has been charged by the Nigerian Federal Inland Revenue Service for failing to register for taxes. The charges are based on claims that Binance did not comply with tax regulations and neglected to issue invoices for taxable services provided on its platform.
The trial, originally scheduled for May 22, was adjourned due to Gambaryan’s absence. Prosecutor Moses Idehu expressed frustration over the failure to produce Gambaryan in court, highlighting the embarrassment faced by the Nigerian government. Gambaryan’s defense counsel, Chukwuka Ikwuazo, requested the adjournment, assuring the court that his client would be present at the next hearing.
Gambaryan is currently being held in Kuje prison, known for its poor living conditions and security breaches. Concerns have been raised about his safety and well-being, given the harsh conditions of the prison. The trial’s proceedings have raised questions about his treatment and overall health.
This trial is part of a broader crackdown on cryptocurrency activities in Nigeria. Binance is facing multiple charges related to tax evasion and money laundering. The court has adjourned the case to June 14 for the potential arraignment of Binance and Gambaryan. As the trial unfolds, concerns about Gambaryan’s safety and the implications for cryptocurrency regulation in Nigeria are growing.
Binance CEO Richard Teng has criticized Nigeria’s approach, stating that the detention of executives at the government’s invitation sets a dangerous precedent. Binance has been actively cooperating with Nigerian authorities to address the issues raised and ensure compliance with local regulations.
With Gambaryan’s absence and safety concerns, this tax evasion trial has become more than just a legal matter. The outcome of the trial will be closely watched.