BREAKING: At last, EFCC Produces Binance Executive in Court

BREAKING: At last, EFCC Produces Binance Executive in Court

  • The EFCC has made some commendable progress in the move to bring the Binance Holdings Limited and its executives to book
  • This is as the anti-graft agency on Thursday, April 4, succeeded in producing Tigran Gambaryan in court
  • Gambaryan is being accused of tax evasion by the Federal Inland Revenue Service (FIRS) in an application filed at the Federal High Court in Abuja

Abuja - The Economic and Financial Crimes Commission (EFCC) on Thursday, April 4, produced an official of Binance Holdings Limited, Tigran Gambaryan, in court over allegations of tax evasion.

Gambaryan is expected to be arraigned on Thursday at the Federal High Court in Abuja.

In the suit marked: FHC/ABJ/CR/115/2024, Binance was accused of failing to register with the Federal Inland Revenue Service (FIRS) for the purpose of paying all relevant taxes administered by the service, Punch reports.

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The accused was wearing a black top with an eye glass
Source: Facebook

The FIRS claimed that while it was offering taxable services to subscribers on its trading platform, the company failed to issue invoices to those subscribers for the purposes of determining and payment of its value-added taxes.

Gambaryan was ushered into the court by heavily armed operatives of the EFCC. He is the second defendant in the matter.

Desribing his appearance in court, The Cable reports that the accused wore a black T-shirt on green pants.

Read more on Binance executives:

Binance Executive in Trouble as EFCC Takes Over Probe, Partners with FBI, UK, Kenya

FG Confirms Binance Executive's Escape From Custody, Discloses How Absconder Left Nigeria

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Recall that Binance cryptocurrency exchange had been criminally charged by the FIRS.

Four different tax crimes were alleged against Binance in the action, which was filed at the Federal High Court in Abuja under case number FHC/ABJ/CR/115/2024.

These consist of failing to file tax returns, not paying company income tax (CIT), evading value-added tax (VAT), and aiding customer tax evasion.

Binance's platform facilitated customers' tax avoidance, according to the FIRS.


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