Today (Friday), Nigeria dropped tax evasion charges against
two Binance executives following the appointment of a local representative by
the crypto exchange to handle legal proceedings.
Tigran Gambaryan, a US citizen and Head of Financial Crimes Compliance,
and Nadeem Anjarwalla, a British-Kenyan Regional Manager for Africa, had both
denied the charges.
Binance Awaits Court Decision
Binance clarified that Gambaryan’s role did not involve
decision-making for the company, suggesting his detention was unnecessary for
resolving issues with the Nigerian government. A spokesperson for Binance
expressed anticipation for the court’s decision to fully dismiss Gambaryan from
the case.
Gambaryan had been in custody since February, while
Anjarwalla departed Nigeria in March. Nigeria’s Federal Inland Revenue Service
subsequently removed both executives as defendants in the tax evasion matter.
However, Binance and the executives still face separate allegations of money
laundering, which the company contends should also be dismissed. Both Gambaryan
and Anjarwalla have denied these accusations.
Nigeria drops tax charges against Binance executives https://t.co/f3FV3TQIbs pic.twitter.com/tKY8lylodY
— Reuters (@Reuters) June 14, 2024
Nigeria previously attributed its currency challenges partly
to Binance, as cryptocurrency platforms gained prominence for trading the
Nigerian naira amid prolonged dollar scarcities and a historic depreciation of
the national currency.
This article was written by Tareq Sikder at www.financemagnates.com.
