Tigran Gambaryan

Tax Evasion: Absence of Binance official, Gambaryan, in court stalls arraignment

The cryptocurrency exchange was dragged to court for tax evasion by the Federal Inland Revenue Service (FIRS) alongside officials of the company, Tigran Gambaryan and Nadeem Anjarwalla, who fled the country on March 22, 2024.


The absence of Binance official Tigran Gambaryan in court on Tuesday stalled his arraignment on the tax evasion charge preferred against him and Binance Holding Limited by the federal government.

The cryptocurrency exchange was dragged to court for tax evasion by the Federal Inland Revenue Service (FIRS) alongside officials of the company, Tigran Gambaryan and Nadeem Anjarwalla, who fled the country on March 22, 2024.

Persecondnews recalls that Nigerian authorities on February 28 arrested the former US tax agent, who serves as chief compliance officer for Binance, the largest global cryptocurrency exchange, and his colleague Nadeem Anjarwalla when they arrived in the country.

On May 17, in a judgment by an Abuja high court, the presiding judge, Emeka Nwite, denied Tigran Gambaryan bail, saying he was likely to abscond.

In the suit marked: FHC/ABJ/CR/115/2024, they are facing a four-count charge after being accused of failing to register with the FIRS for the purpose of paying all relevant taxes administered by the service.

The FIRS also alleged that while it was offering taxable services to subscribers on its trading platform, the company failed to issue invoices to the subscribers for the purposes of determining and paying its value-added taxes.

At the last adjournment, counsel to the FIRS, Mr. Moses Ideh, served the second defendant, Gambaryan, with the charges with the leave of the court.

However, in last Thursday’s proceedings, Gambaryan failed to appear in court.

The counsel for the second defendant, Mr. Chukwuka Ikwuazo (SAN), said the defendant was not in court because the correctional service (prison) had yet to bring him.

He called for a standdown to investigate what might have happened.

Mr. Moses Ideh, representing the FIRS, expressed displeasure over the defendant’s failure to show up and opposed a standdown on the matter.

He told the defence counsel that he knew the defendant would not be in court and did nothing to make him available.

Ikwuazo (SAN), who denied the claims, said the defendant is in the custody of the correctional service, adding that they are to blame for not producing him in court.

He then requested an adjournment and promised to ensure that the defendant would be present in court on the next adjourned date.

Ideh and T.J. Krukrubo (SAN), who represented the first defendant, did not oppose the motion for adjournment.

Justice Nwite adjourned the case until July 14 for arraignment.

The two executives of the company were arrested and detained after they flew into the country as a result of a ban on their website by the Nigerian government over allegations of handling illicit cash flows through their platform.

Leave a comment

Related Articles

Emirate crisis: Gumel promises neutrality, commitment to peace, stability in Kano State

Kano State Police Commissioner Ussain Gumel has refuted claims that his officers...

Updated: Rescued abducted Fouani brothers reunited with families, say Lagos Police

The Lagos State Police Command’s spokesperson, SP Benjamin Hundeyin, has confirmed that...

Emirship tussle: We won’t allow the state of emergency in Kano – Sen. Kwankwaso

Sen. Rabi’u Musa Kwankwaso, former Kano State Governor and Kwankwasiyya Movement leader,...

Asari Dokubo to stay-put Rivers LG Chairmen: Go home in peace or face people’s wrath

“The chairmen, whose tenure expired on June 17, cannot force themselves on...

Just in: Lagos Police command rescues abducted Fouani brothers

Operatives of the Lagos State Police Command have rescued the three kidnapped...

Tenure elongation: Rivers Gov. Fubara directs administrative heads to take over 23 LGAs

The Rivers State Governor, Siminalayi Fubara, has directed the Heads of Local...

Ex-Pres. Obasanjo pays Sallah homage to First Lady, Oluremi

Former President Olusegun Obasanjo visited the nation’s First Lady, Sen. Oluremi Tinubu,...

Tinubu off to South Africa for Pres. Ramaphosa’s inauguration

President Bola Tinubu will, on Tuesday, June 18, 2024, depart Lagos for...

Despite Labour’s disapproval, FG insists on N62,000 minimum wage

The Presidency said on Sunday that the demand for a minimum wage...

Palliatives: Tinubu, Sanwo-Olu lauded for channelling food items for vulnerable people through CDC platforms

President Bola Tinubu and the Lagos State Governor, Babajide Sanwo-Olu, have been...

Presidency reacts to New York Times article, says current economic problems not created by Tinubu

Nigeria’s economic downslide was an inherited problem, the Presidency said in a...

Enugu Rangers sweep aside Bendel Insurance to win their eighth league title

The Enugu Rangers won the 2023/24 Nigeria Premier Football League after beating...

Pres. Tinubu honors fathers, calls them ‘true heroes’

President Bola Tinubu, in his Father’s Day message, saluted the dedication and...

Millions of pilgrims mark Eid al-Adha with a symbolic stoning of devil in Saudi Arabia

Muslims worldwide observed Eid al-Adha, commemorating the Prophet Abraham’s willingness to sacrifice...

Banning of Eid-el-Kabir festivities: Kano Govt. blasts CP for usurping governor’s authority

The Kano State Government has condemned the state’s police command for defying...

FG sacks Mamman Ahmad as BPP DG, appoints Ayodeji Gbeleyi as BPE DG

As part of effort to reorganize and improve the agency’s efficiency and...

Eid-el-Kabir: DSS issues security alert, calls for vigilance during celebrations

The Department of State Services (DSS) has urged caution and vigilance as...

Breaking: Finidi George resigns as Super Eagles head coach

Barely a month after his unveiling as Super Eagles coach, Finidi George...