In a significant development, the Federal High Court in Abuja has discharged Binance executives Tigran Gambaryan and Nadeem Anjarwalla, who had been accused of tax evasion by the Federal Inland Revenue Service (FIRS). This decision follows the FIRS filing fresh amended charges after Binance appointed a Nigerian representative, Ayodele Omotilewa.
Despite the absence of legal representation for Binance, Gambaryan appeared in court to hear the charges. However, his counsel, Chukwuka Ikwazuonu, argued that the charges had not been formally served, prompting the court to order service in open court and adjourn the case until June 19 for Gambaryan’s arraignment.
In a related case, the Economic and Financial Crimes Commission (EFCC) also brought charges against Gambaryan for alleged money laundering and foreign exchange violations. While the EFCC's counsel, E.E. Iheanacho, confirmed service of charges to Gambaryan, his lawyer, Mark Mordi, contended that Binance had not been properly served, delaying the arraignment.
The judge has scheduled the continuation of the EFCC trial for June 20, with Gambaryan remaining detained at Kuje prison.
This case has garnered international attention, with 16 US Members of Congress recently urging President Biden to secure Gambaryan’s release, labeling him as a "U.S. citizen wrongfully detained by a foreign government."
The Nigerian government has intensified scrutiny of cryptocurrency platforms, accusing Binance of manipulating foreign exchange rates. Gambaryan and Anjarwalla are facing a four-count charge, with the case now before Justice Emeka Nwite.
Earlier this year, Nigerian authorities detained the Binance executives upon their arrival in Nigeria, following the federal ban on the cryptocurrency platform.
