A Nigerian court has delayed the tax evasion trial of Binance executives, rescheduling the hearing for June 14 due to the absence of Tigran Gambaryan, Binance’s head of financial crime compliance.
The hearing was postponed because Gambaryan, a U.S. citizen, was not presented in court as expected, according to a Reuters report. The court has not provided a reason for his absence, and even Moses Ideho, the lawyer representing the Nigerian revenue service, expressed confusion over why Gambaryan was not brought by the Nigerian prison service.
This delay follows a previous ruling that allowed Gambaryan to represent Binance in the tax evasion case. Binance and its executives, Gambaryan and Nadeem Anjarwalla, Binance’s regional director for Africa, face four counts of tax evasion, including failure to register with Nigeria’s Federal Inland Revenue Service.
Binance CEO Richard Teng criticized Nigerian authorities for what he described as a “dangerous new precedent for all companies worldwide” by inviting executives to Nigeria and then detaining them as part of a broader crackdown on cryptocurrency.
In a blog post, Teng stated that Gambaryan and Anjarwalla had been assured “safe passage for their meetings” before their trip to Nigeria. Despite these assurances, the two were “unlawfully detained” by Nigerian authorities. In addition to the tax evasion charges, Nigeria’s Economic and Financial Crimes Commission has accused Binance and its executives of laundering over $35 million.
Gambaryan and Anjarwalla were arrested in February and charged with criminal violations. While Gambaryan awaits trial, Anjarwalla escaped custody but was later extradited from Kenya to Nigeria.
As part of the crackdown on crypto trading in Nigeria, Binance was ordered to remove the naira from its peer-to-peer facilities. An Abuja High Court also directed the exchange to provide detailed data on all local crypto users on its platform.
Summary Review: Nigerian court has postponed the tax evasion trial of Binance executives until June 14 due to the absence of Tigran Gambaryan. This delay adds to the ongoing legal challenges faced by Binance in Nigeria, where its executives are accused of tax evasion and money laundering. Despite assurances of safe passage, the detention of Gambaryan and Anjarwalla by Nigerian authorities has drawn criticism from Binance CEO Richard Teng. The case highlights the increasing regulatory scrutiny on cryptocurrency exchanges in Nigeria, which has included directives for Binance to delist the naira and provide detailed data on its local users. The upcoming trial will be closely watched as it unfolds in June.
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