Cryptocurrency markets continue to see significant legal steps, with many governments shaping the crypto agenda. Accordingly, it has been reported that the trial of Binance executive Tigran Gambaryan, who faces tax evasion charges in Nigeria, has been postponed to April 19.
What’s Happening in Nigeria?
Bloomberg reported on April 4 that while authorities are advancing charges against the cryptocurrency exchange and two executives, Gambaryan will continue to be detained in Nigeria, but the case has been delayed for two weeks. Gambaryan arrived in Nigeria in February with Binance executive Nadeem Anjarwalla following allegations of manipulating the country’s fiat currency, the naira.
On March 5, Binance announced its intention to halt all naira transactions and effectively exit the market for Nigerian users. During the announcement, Gambaryan and Anjarwalla were detained by Nigerian authorities. Reports suggest they face charges of tax evasion and money laundering.
Binance and Legal Proceedings
Nigerian authorities have advanced the charges and the swap involving Gambaryan, which was reported to be postponed to April 8, but Anjarwalla reportedly escaped custody on March 22 and managed to board a plane departing from the capital, Abuja. Gambaryan’s wife has started a petition for his return to the USA, which had 1,719 signatures at the time of publication. In her petition, Yuki Gambaryan stated:
“It is extremely ironic that he is accused of crimes he has fought against his whole life. My husband is an innocent man and a pawn in someone else’s game.”
In a blog post dated April 3, Binance stated that Gambaryan does not have decision-making authority in the company and requested that the exchange not be held responsible for its activities in Nigeria. Binance has not shared details with the public regarding the matter. Former Binance CEO Changpeng Zhao continues to stay in the US after admitting to a crime as part of a $4.3 billion settlement with authorities. Zhao is expected to be sentenced in the ongoing legal process on April 30.
