NewsCourt Adjourns Arraignment Of Binance, Executives To April 8

Court Adjourns Arraignment Of Binance, Executives To April 8

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April 04, (THEWILL) – The Federal High Court, Abuja, has adjourned the arraignment of cryptocurrency firm, Binance Holdings Limited and its two executives for alleged tax fraud.

THEWILL reports that the Federal Government, through the Federal Inland Revenue Service (FIRS), had filed a five-count charge against Binance and two of its executives, Tigran Gambaryan and fleeing Nadeem Anjarwalla.

In the charge marked: FHC/ABJ/CR/115/2024, the Federal Government accused Binance of facilitating customer tax evasion, including non-payment of Value Added Tax (VAT), failure to file tax returns, non-payment of Company Income Tax (CIT) and complicity in aiding customers to evade taxes through its platform among others.

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On Thursday, the arraignment of Gambaryan (2nd Defendant), who was in court, was stalled following delayed service of the charge on the accused.

Counsel to the second defendant drew the attention of the court to the fact that his client, whom the Federal Government scheduled for arraignment, did not have an idea of the charges against him.

However, Counsel to the FIRS told the court that service had been difficult because the defendant had been in custody and prayed the court to grant leave so that the second defendant could be served in court.

The prosecution prayed the court for an adjournment to enable the defendant to go through the charge and be ready to take his plea.

Justice Emeka Nwite consequently ordered that the defendant be served in court and adjourned the matter to April 8 for arraignment.

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