Binance Executive: Court Takes Decision as FIRS Makes Major Error
- The arraignment of Binance Holdings Limited and its executives was stalled on Thursday, April 4, at the Federal High Court in Abuja
- This was as the counsel to FIRS failed to serve Binance executive, Tigran Gambaryan, a notice of the charge
- The case was later shifted to Friday, April 19, after the said notice was served to the accused without his lawyer's objection
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Abuja - A Federal High Court in Abuja has adjourned the tax evasion case against Binance Holdings Limited and its executives.
Why case was adjourned
The matter was adjourned due to the failure of the Federal Inland Revenue Service (FIRS) to serve Tigran Gambaryan the charges as he was still in the custody of the Economic and Financial Crimes Commission (EFCC).
The arraignment could not go on as Gambaryan, the second defendant, was not served with the charge by the FIRS before the hearing.
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Counsel to the second defendant drew the attention of the court to the fact that his client whom the federal government scheduled for arraignment does not have an idea of the charges against him.
Reacting to this, FIRS' lawyer told the court that service on the 2nd defendant has been difficult as he has been in custody and therefore prayed for the court to grant leave so the defendant could be served in court.
Counsel to the defendant had raised questions about the conduct of the federal government in serving the charge on the defendant but did not object to it.
The court then ordered that the defendant be served in court.
Upon service of the charge, the prosecution prayed the court for an adjournment to enable the defendant to go through the charge and be ready to take his plea.
According to TVC News, the case has been adjourned to Friday, April 19, by the trial judge, Justice Emeka Nwite.
The federal government had dragged the crypto firm and its two top officials, Tigran Gambaryan and the fleeing Nadeem Anjarwalla to court over alleged tax evasion, The Nation reports.
Binance was charged in the lawsuit filed under the case number FHC/ABJ/CR/115/2024 of failing to register with the FIRS in order to pay all applicable taxes.
The FIRS also alleged the firm neglected to send users invoices to calculate and pay their value-added taxes, even though it was providing taxable services on its trading platform.
At last, EFCC Produces Binance Executive in Court
Recall that 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 was expected to be arraigned on Thursday at the Federal High Court in Abuja.
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