2024

Drops

Nigeria’s Federal Inland Revenue Service has dropped tax evasion charges against the two Binance executives, Tigran Gambaryan and Nadeem Anjarwalla. Despite this development, both remain implicated in a separate money-laundering investigation. 
Legal Proceedings Adjusted 
The decision comes after Nigerian authorities reviewed the roles of Gambaryan and Anjarwalla within the cryptocurrency exchange, leading to the dismissal of their names from the tax-related accusations.&nbsp; 
Now, Binance itself will face these charges through its local representation. Consequently, while this adjustment reduces the immediate legal pressures on the individuals, it maintains the focus on the company’s operational practices. 
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 🚨JUST IN🚨 🇳🇬 Nigeria Drops Tax Charges Against <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Binance</a>&nbsp; Executives <a href="https://t.co/iVEppbcK7E" target="_blank">pic.twitter.com/iVEppbcK7E</a>— Global Rashid (@globalrashid007) <a href="https://twitter.com/globalrashid007/status/1801619947367580104?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">June 14, 2024</a>
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Gambaryan, who has suffered health complications, including malaria and pneumonia during his detention, will no longer need to appear in court for the FIRS tax case. However, he remains in custody, with the money-laundering allegations still pending. His health and the conditions of his detainment have sparked significant concern back in the US, prompting <a href="https://www.cryptotimes.io/2024/06/05/u-s-politicians-urge-biden-to-free-binance-employee-in-nigeria/" target="_blank" rel="noreferrer noopener">appeals</a> for more assertive government intervention. 
Binance has been trying to convince Nigerian authorities that Gambaryan and Nadeem do not have decision-making powers in the firm. A family representative of Gambaryan echoed this stance and said they never should have been detained and charged. 
Ongoing Legal Concerns 
The upcoming court sessions will likely be critical for both executives. The next hearing is set for June 19, focusing on the enforcement of fundamental rights, followed closely by the resumption of the trial on June 20. These proceedings are essential not only for the legal battle but also for the health and well-being of Gambaryan, as he faces serious health challenges while detained. 
A Binance spokesperson said, “For Tigran to be allowed to go home to his family, we are hopeful that the Economic and Financial Crimes Commission (EFCC) will take similar steps.” 
As the case unfolds, the international community continues to watch closely, considering both the legal implications for Binance and the human rights aspects related to the treatment of its detained executives. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read:<a href="https://www.cryptotimes.io/2024/06/07/binance-vs-nigeria-a-trial-in-a-pickle-that-could-turn-relations-sour/" target="_blank" rel="noreferrer noopener"> Binance vs Nigeria: A trial in a pickle that could turn relations sour</a> 
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Nigeria Withdraws Tax Charges Against Binance Executives

The Crypto Times

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