In an unexpected turn, the Nigerian court has adjourned the tax evasion trial of cryptocurrency giant Binance and two of its key executives until June 14. This decision came after authorities failed to present Tigran Gambaryan, Binance’s U.S.-based head of financial crime compliance, in court.
Gambaryan’s absence, unexplained by officials, halted the proceedings on Wednesday. Despite an Abuja court ruling last Friday permitting Gambaryan to stand trial on behalf of Binance, his nonappearance has stalled the case.
Binance CEO Richard Teng criticized Nigeria in May, claiming the country set a dangerous precedent by detaining its executives during a visit amidst a crackdown on crypto activities. The company is vigorously contesting charges of tax evasion and money laundering.
Facing four counts of tax evasion, including failing to register with Nigeria’s Federal Inland Revenue Service, are Gambaryan and Nadeem Anjarwalla, Binance’s regional manager for Africa. Anjarwalla, a British-Kenyan, escaped custody in March but remains implicated, complicating the trial’s progression. According to Nigerian law, all parties must be served before proceedings can continue, noted Gambaryan’s lawyer, Chukwuka Ikwuazom.
Revenue service attorney Moses Ideho attributed Gambaryan’s absence to Nigeria’s prison service but lacked further details. Consequently, Judge Emeka Nwite postponed the possible arraignment of Binance and Gambaryan to mid-June.
In addition to the tax evasion allegations, Binance and its executives are accused of laundering over $35 million by the Economic and Financial Crimes Commission (EFCC), with a related trial set for Thursday. Binance maintains it is cooperating with Nigerian authorities following Gambaryan’s detention.
