A Nigerian court has decided to delay Binance’s tax evasion trial. Executives of Binance are facing allegations of laundering funds for allegedly enabling illegal flows.
The cryptocurrency exchange Binance is facing charges of tax evasion, but a Nigerian court has postponed those proceedings until next month. Reuters reports that authorities failed to bring Binance CEO Tigran Gambaryan in court on Wednesday, leading to the suspension of the case.
Binance and the Nigerian government both declined to comment on why Gambaryan was missing. According to Revenue Service lawyer Moses Ideho, the Nigerian Prison Service was planning to prosecute Gambaryan. After thereafter, Judge Emeka Nwite scheduled a probable arraignment date for June 14 for Binance and Gambaryan.
After an official meeting, officials in Nigeria arrested Gambaryan and another Binance executive, Nadeem Anjarwalla, on charges that Binance had helped facilitate a $26 billion illegal influx. After having their passports confiscated, the executives sued the Nigerian government, claiming that they had violated their human rights.
Nigerian officials denied the allegations that Binance CEO Richard Teng had demanded a $140 million bribe, further escalating the situation.
In response to Teng’s claims, House Committee on Financial Crimes Chairman Ginger Onwusibe said Binance was trying to blackmail the government. “Representatives of the Committee never once made any form of demand or request towards Binance,” he said.
For allegedly not registering with the Federal Inland Revenue Service of Nigeria, Binance and its officials are facing four charges of tax evasion. Extra allegations of money laundering totaling over $35 million are pending trial on Thursday.
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