Abuja Federal High Court to Arraign Binance Executives for Money Laundering and Tax Infractions
The Abuja Federal High Court is gearing up for a high-profile arraignment tomorrow as Binance executives, Tigran Gambaryan and Nadeem Anjarwalla, are set to face charges before Justice Emeka Nwite. The charges against the duo are serious, with Gambaryan and Anjarwalla facing accusations of money laundering and tax infractions.
The Economic and Financial Crimes Commission (EFCC) has filed a case against the Binance executives, alleging that they laundered a staggering $35,400,000. The charges also include accusations of carrying out specialized financial activities without a valid license, a violation of the Banks and Other Financial Institutions Act.
On the other hand, the Federal Inland Revenue Service (FIRS) has brought forth charges against the defendants for failing to register with the FIRS and pay relevant taxes while offering services on the Binance platform. These charges are in violation of various tax laws, including the Value Added Tax Act and the Companies Income Tax Act.
Anjarwalla, who had previously escaped custody, will be arraigned in absentia before Justice Nwite. The court had previously ordered Binance to provide comprehensive data on all Nigerian traders using its platform, following allegations of money laundering and terrorism financing activities.
The upcoming arraignment is expected to shed light on the alleged financial misconduct by Binance executives and the potential impact on the cryptocurrency industry. Stay tuned for updates on this developing story as it unfolds in the Abuja Federal High Court.
