The Binance executive, Tigran Gambaryan, who is currently in jail, has been deemed eligible by a Nigerian court to represent the cryptocurrency exchange in its ongoing tax evasion trial. A spokesperson for Binance stated that the charges against Gambaryan are entirely without merit, and he should be released.
Nigerian Court Rules Tigran Gambaryan Can Face Tax Evasion Charges on Behalf of Binance
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Tigran Gambaryan Qualifies to Represent Binance
A Nigerian court has ruled that Tigran Gambaryan, the incarcerated Binance executive, is eligible to represent the cryptocurrency exchange in its ongoing tax evasion trial. Judge Emeka Nwite of Nigeria stated in his ruling that Gambaryan’s role as Binance’s Chief Financial Compliance Officer, coupled with his appointment to represent the cryptocurrency exchange, qualifies him to face the charges.
Judge Nwite’s ruling appears to dismiss Binance and its CEO’s assertion that Gambaryan is a mid-level employee without decision-making authority. As reported by Bitcoin.com News, Binance has consistently argued that Gambaryan, described as a “strict law enforcement professional,” should be released from custody.
Richard Teng, CEO of Binance, warned about the dangerous precedent set by Nigerian authorities with their ongoing detention of Gambaryan. Teng also alleged that Nigerian authorities use Gambaryan as a negotiating tool in their dealings with Binance. As highlighted in a Reuters report, the Nigerian judge was not swayed by Binance’s arguments.
Binance Negotiations: Nigerian Authorities Use Gambaryan as Leverage
Meanwhile, in their reaction to the court’s May 17 ruling, a spokesperson for the crypto exchange said:
We are deeply disappointed that Tigran Gambaryan, who has no decision-making power in the company, continues to be detained. These charges against him are completely meritless. He should be freed while discussions continue between Binance and Nigerian government officials.
According to the report, the Federal Inland Revenue Service (FIRS) of Nigeria has not formally charged Binance with tax evasion. However, it has indicated that Gambaryan may face such charges on behalf of the crypto exchange.
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