Arrest of Binance top manager: Charges and Court hearing
Date: 2024-04-09 Author: Gabriel Deangelo Categories: IN WORLD
On April 8, a court in Nigeria considered the case of Binance Vice President Tigran Gambaryan, who is accused of tax evasion and money laundering amounting to $35 million.
Gambarian denies the allegations, and his defense team argues that he should not be held responsible for Binance's operations in Nigeria.
Court Decision and Outlook
The court rejected the defense's arguments, taking into account the educational trainings Ghambaryan conducted for Nigerian officials.
The top manager was placed in a high-security facility until April 18, when a hearing on possible bail was scheduled. The court hearing in the case of Gambaryan and Binance is scheduled for May 2.
Nigerian authorities accuse Binance Holdings Limited and its top managers of tax evasion and money laundering worth billions of dollars.
Binance faces a huge fine and an obligation to provide Nigerian user data and transaction history, as well as resolve any outstanding tax liabilities.
