According to a report by CoinDesk, the tax charges brought against two senior executives of the cryptocurrency exchange Binance, Tigran Gambaryan and Nadeem Anjarwalla, by the Federal Inland Revenue Service (FIRS) of Nigeria have been dropped. FIRS has agreed to modify the charges to focus solely on Binance, with Gambaryan no longer required to appear in court for the FIRS case, making Binance the sole defendant in the case.
Gambaryan and Anjarwalla were invited by the Nigerian government in February this year to attend a high-level meeting regarding compliance issues of Binance in the country. However, Nigeria later accused the exchange of destabilizing the country’s currency, alleging crimes such as money laundering and tax evasion, leading to the detention of the two senior executives. Several US political figures urged President Biden last week to show concern for the case and described the Nigerian authorities’ charges as “baseless”.
While the tax charges have been dropped, the money laundering-related case is proceeding as planned, with Gambaryan and Anjarwalla still being defendants in the case. The next hearing for this case is scheduled for June 19, where applications for the enforcement of fundamental rights will be heard. The trial will continue on June 20, with Gambaryan currently being held in the Kuje Prison.
Related reports: “Wall Street Journal: Nigeria’s Currency Crisis, Should Binance Take the Blame?” and “US Political Figures Urge President to Show Concern for Detained Binance Executives in Nigeria, Ensure Their Safety.”
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