News View Non-AMP

Binance Execs Face Trial for Tax Evasion in Nigeria: What Is Their Defense?

Published by
Qadir AK

Binance, a leading cryptocurrency exchange, is grappling with legal troubles as its executives gear up for court trials in Nigeria. Allegations of money laundering and tax infractions have cast a dark cloud over the company’s operations, drawing heightened scrutiny from regulators.

Lately, it seems like every other day Binance is in trouble once again. So, what is it this time and how could it impact the crypto space? Read on to know more.

Understanding Binance’s Problems

As the trial date for two pivotal figures from Binance, Tigran Gambaryan and Nadeem Anjarwalla, draws near, attention shifts to the Abuja Federal High Court of Nigeria where proceedings are slated to begin on April 4. In an attempt to navigate the legal maze, Binance has issued a statement, shining a spotlight on Gambaryan’s background in law enforcement and his role within the company.

After that, in the statement released, Binance emphasized that Gambaryan should not be held personally responsible for several high financial crime charges ranging from money laundering to tax infractions pressed against him. 

Did You Know? SHOCKING! Binance-Linked Crypto Exchange HKVAEX Shuts Down

Charges and Counteractions

The Economic and Financial Crimes Commission (EFCC) and the Federal Inland Revenue Service (FIRS) have separately filed charges against the embattled executives. The EFCC alleges that Gambaryan and Anjarwalla laundered a substantial sum of $35.4 million, while the FIRS accuses them of tax evasion.

Binance is currently undergoing discussions with Nigerian government officials regarding the matter. 

…Here’s Another Twist!

However, the plot thickens with the mysterious absence of Nadeem Anjarwalla from detention, shrouded in secrecy. Speculation swirls around Anjarwalla’s dual citizenship status in the U.K. and Kenya.

Read More About This: Binance Executive Takes Legal Stand Against Nigerian Government

As the trial looms, the burning question remains: Will Anjarwalla make an appearance tomorrow? Only time will tell.

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

Recent Posts

This $0.025 Token Is on Track for a 3400% Run, According to Market Analysts

In a crypto market where many tokens are competing for visibility, only a few stand…

April 28, 2025

Here’s When Altcoins Will Rally

Crypto markets started the week with a bullish tone on Monday, with Bitcoin trading above…

April 28, 2025

Serum Price Prediction 2025, 2026, 2030: When Will SRM Price Revisit $13?

Story Highlights The live price of the SRM token is Serum coin price may reach…

April 28, 2025

US Recession Looming in 2025? Experts Warn the Trade War Could Push Us There!

The talk of a possible US recession in 2025 is getting louder, and it’s all…

April 28, 2025

BONK Price Prediction 2025, 2026 – 2030: Will BONK Price Hit $0.00010?

Story Highlights The live price of the BONK token is BONK coin price may reach…

April 28, 2025

Congress Struggles to Meet Trump’s August Deadline for U.S. Crypto Regulation

As lawmakers return to Capitol Hill after a two-week recess, crypto legislation is at the…

April 28, 2025