As an analyst with a background in international finance and law, I closely follow the developments regarding Binance and its executives’ legal issues in Nigeria. The recent announcement by the Federal Inland Revenue Service (FIRS) that they have dropped their tax charges against Tigran Gambaryan and Nadeem Anjarwalla is a positive step forward. However, I am deeply concerned about Gambaryan’s deteriorating health and his continued detention.
Two Binance executives who were previously facing tax charges in Nigeria have had those charges dismissed. However, one of the executives is still being detained, raising concerns over their health despite the legal development.
As a researcher, I’ve come across new information regarding the tax investigation by the Federal Inland Revenue Service (FIRS) of Nigeria. According to a family representative’s email statement released on Friday, the tax charges against Binance executives Tigran Gambaryan and Nadeem Anjarwalla have been withdrawn.
“The FIRS agreed to revise their charges to serve solely on Binance, through its local representative. Tigran will no longer need to appear in court for the FIRS case. This means that Binance is the sole defendant in this case,” the statement read. “This goes to show that both Tigran and Nadeem are not decision makers at Binance, and should never have been detained and charged.”
The FIRS has decided to revise the fees such that only the local emissaries of the crypto exchange will be held accountable. Consequently, all tax-related accusations against Gambaryan and Anjarwalla are withdrawn, leaving Binance as the identified party in question.
Two executives, identified in a money-laundering investigation led by Nigeria’s Economic and Financial Crimes Commission (EFCC), continue to be implicated in the case. Regrettably, one of them, Gambaryan, will stay incarcerated despite his health concerns.
As a crypto investor, I’d put it this way: Gambaryan serves as the head of financial crimes and compliance at Binance, while Anjarwalla holds the position of regional director for Africa.
Gambaryan’s health issues
It has been alleged that Gambaryan’s health condition is worsening following his collapse in court on May 23, raising concerns about the possibility of him having malaria.
It’s currently thought that he is suffering from malaria. A mandate was given for his relocation to a hospital for enhanced medical attention. Gambaryan will continue to be detained.
A group of former US federal prosecutors and agents expressed concern over Gambaryan’s health issues and urged the US Department of State to take action to secure his release. In a letter penned on June 6, these ex-officials voiced their disappointment with the current response of the US government, deeming it inadequate.
Background
Two high-ranking officials at Binance, Tigran Gambaryan and Nadeem Anjarwall, were taken into custody by the Nigerian authorities in February and accused of committing criminal offenses. Currently, Gambaryan is standing trial, whereas Anjarwall managed to evade detention and was subsequently extradited from Kenya back to Nigeria.
Two representatives, one from Binance and the other representing the Nigerian authorities, convened to debate regulatory matters regarding the recent prohibition of cryptocurrency exchanges by the Nigerian government. After the discussions, they were apprehended and detained in a government detention center without access to their passports.
Binance has been making efforts to convince Nigerian officials that Gambaryan holds no power to make company decisions. Using his health as an excuse, they have requested that he be exempted from appearing in court for any accusations and granted freedom instead.
Gambaryan and Anjarwalla, who serves as Binance’s representative in Africa, were originally charged with four offenses related to tax evasion. One of these charges involved neglecting to register with Nigeria’s Federal Inland Revenue Service.
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2024-06-14 16:55