Nigerian Court Schedules Binance Tax Evasion Verdict for October
A Nigerian court has scheduled the verdict for the tax evasion trial against cryptocurrency exchange Binance for October 11. The announcement was made by presiding judge Emeka Nwite on Friday.
Binance faces four counts of tax evasion, including failure to register with Nigeria’s Federal Inland Revenue Service (FIRS).
During the proceedings, Binance’s lawyer urged the judge to dismiss all charges, arguing that the case lacks substance.
On Friday, July 12, Binance’s lawyer, Ayodele Omotilewa, appeared in court and entered a not-guilty plea to all charges before Judge Emeka Nwite.
Binance is facing four counts of tax evasion, including failure to register with Nigeria’s Federal Inland Revenue Service for tax purposes.
In June, the Federal High Court in Abuja cleared Gambaryan and Anjarwalla of tax evasion charges .
Gambaryan, a United States citizen, and Anjarwalla, a British Kenyan who fled to Kenya, still face separate money laundering charges, which they both deny.
The court’s decision followed FIRS’ submission of amended charges that effectively dropped the tax evasion allegations against the two executives.
However, the charges against its two executives were dropped in June, but they still face separate money laundering allegations, which they deny. This change came after Binance appointed Omotilewa to handle its local operations.
Omotilewa urged the judge to dismiss the charges, arguing that the case lacks substance, similar to the previous dismissal of charges against Binance executives Tigran Gambaryan and Nadeem Anjarwalla.
While Binance has not provided an immediate comment, the company has previously stated that the charges should be dismissed.
Judge Nwite has decided to adjourn the case until October,
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