The anticipated arraignment of Binance Holdings Limited and two of its executives for alleged tax evasion faced a setback on Thursday, with the Federal Inland Revenue Service (FIRS) alleging interference in the service process.
During the court proceedings, counsel for the FIRS, Moses Ideh, informed the court that one of the executives, Tigran Gambaryan, could not be served with the charge sheet due to denied access by the Economic and Financial Crimes Commission (EFCC), where Gambaryan was in custody.
The other executive, Nadeem Anjarwalla, who allegedly fled from custody, was absent from the court hearing.
In response to the service disruption, Ideh requested permission to serve the charge sheet on Gambaryan directly in the courtroom through his lawyer, Chukwuka Ikwuazo (SAN). With no objection raised, Justice Emeka Nwite granted the request.
Acknowledging the need for Gambaryan’s legal team to review the charges, Justice Nwite adjourned the case until April 19 for arraignment.
The charges against Binance Holdings Limited, marked FHC/ABJ/CR/115/2024, accuse the company of tax evasion by failing to register with the FIRS and neglecting to issue invoices for taxable services provided on its trading platform.
This development comes after reports of the arrest and detention of Binance executives, with Anjarwalla allegedly escaping custody. Amidst these legal proceedings, the Inspector General of Police, Olukayode Egbetokun, assured that efforts were underway to re-arrest Anjarwalla through the International Criminal Police Organisation.
Meanwhile, separate money laundering charges against Binance Holdings Limited and its official were adjourned until April 8, following objections regarding service on the company. The EFCC alleges that Binance, Gambaryan, and Anjarwalla concealed the source of revenue generated in Nigeria, constituting proceeds of unlawful activity. The case awaits further legal deliberation on the service issue.
