UPDATE: Court Adjourns Trial Of Binance, Executives

The case concerning tax evasion brought against Binance Holdings Limited and its management by a Federal High Court in Abuja has been postponed.

Due to accusations of potential tax evasion, the Federal Government brought the cryptocurrency company, along with two of its top officials, Tigran Gambaryan and the evading Nadeem Anjarwalla, to court.

In the complaint pertaining to case number FHC/ABJ/CR/115/2024, Binance was accused of neglecting to register with the FIRS in order to pay the relevant taxes.

The FIRS further claimed that while offering taxable services on its trading platform, the company failed to provide users with invoices for them to compute and pay their value-added taxes.

One of the defendants, Tigran Gambaryan, arrived at the court at 9:15 am on Thursday while his colleague, Anjarwalla was absent as he was said to be on the run.

The Federal High Court is still observing its Easter vacation and the trial judge is not a vacation judge but the Chief Judge of the court, Justice John Tsoho, granted the fiat that Justice Nwite handled the case, being a matter of dire National interest.

Since Gambaryan was still being held by the EFCC, the FIRS was unable to serve him with the charges, hence the case was postponed.

The defendants are facing a five-count charge of money laundering, and operating specialized businesses in Nigeria without a license.

Details soon…