Binance’s Tax Evasion Trial Adjourned 

The trial in Nigeria concerning tax evasion allegations against Binance and two of its executives faces a delay. The court has rescheduled the proceedings to May 17 because Binance has not yet been formally served with the charges.

IRS Allegations and Legal Disputes

The Federal Inland Revenue Service (FIRS) has not officially served Binance with tax evasion charges, reports local news agency BusinessDay. The FIRS lawyer argued that Gambaryan, one of Binance’s executives, should represent the company as the main defendant. However, Gambaryan’s lawyer objected, citing Nigerian law, and the judge adjourned the proceedings to May 17 for further deliberation.

Binance and its executives, including Tigran Gambaryan and Nadeem Anjarwalla, were arrested on February 28 and charged with tax evasion during a visit to Nigeria. This occurred after the government banned cryptocurrency channels to control currency speculation.

Tax Evasion and Legal Action

The charges stem from Binance’s failure to register with Nigeria’s Federal Inland Revenue Service for tax remittance. Gambaryan appeared in court but did not enter a plea, while Anjarwalla, who left the country in March 2024, was absent.

Apart from tax evasion, Binance and its executives face money laundering charges by Nigeria’s anti-graft agency. The trial is scheduled to resume on May 2.

Binance’s Response and Legal Challenges

Binance, which did not have representation in court, stated at a crypto conference that it is cooperating with Nigerian authorities. Meanwhile, Gambaryan’s bail application hearing has been postponed, and he is suing the government for violating his rights.