Federal Government drops tax evasion charges against Binance executives

FG drops tax evasion charges against Binance executives

In a major breakthrough, the Federal High Court in Abuja has dismissed tax evasion charges filed against Tigran Gambaryan, a 39-year-old American, and his colleague Nadeem Anjarwalla, who had fled to Kenya. The decision comes after the Federal Inland Revenue Service (FIRS) filed amended charges that effectively dropped the allegations.

Gambaryan, who has been in detention for 110 days, was diagnosed with malaria and pneumonia during his incarceration. The development is seen as a relief to Binance, the world’s largest cryptocurrency exchange, which had been seeking his release.

According to sources, Binance had notified the Nigerian authorities of its intention to appoint a local representative to handle its operations in the country. The move was seen as a gesture of cooperation and willingness to resolve the issue amicably.

“We are pleased that the FIRS has taken this step and we look forward to continuing our engagement with the government to resolve this matter,” said a spokesperson for Binance. “We hope that the Economic and Financial Crimes Commission (EFCC) will take similar steps to allow Tigran to return home to his family.”

The EFCC is still prosecuting Binance and its executives on charges of alleged money laundering and foreign exchange violations. The next hearing in this case is scheduled for June 20th.

Gambaryan’s detention has attracted international attention, with 16 US members of Congress urging President Biden to intervene and secure his release. They described him as a “U.S. citizen wrongfully detained by a foreign government.”

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