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Tax charges filed by Nigeria against Binance executives are withdrawn

Fast Take
  • Tax charges against Binance executives have been dropped.
  • The charges were brought by Nigeria's FIRS.
  • The body agreed to review the charges.
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Tax charges against crypto exchange executives dropped Binance, Tigran Gambaryan and Nadeem Anjarwalla, filed by the Federal Inland Revenue Service (FIRS) of Nigeria, according to published information by the Coindesk. A family spokesperson revealed the information in a statement sent on June 14.

According to the publication, the Authority agreed to review the charges so that only Binance, through its local representative, is appointed. With this decision, Gambaryan, who is currently ill, will not need to appear in court, with the exchange now being the only defendant in the case. However, Gambaryan and Anjarwalla continue to be named in a money laundering case.

The next hearing regarding the money laundering process was scheduled for next week, on June 19, “where the request for an order for the application of fundamental rights will be considered”, highlighted the statement. A day later, the trial is expected to resume.

Gambaryan and Nadeem Anjarwalla, regional manager of Binance heading to Africa, they were detained upon arriving in Abuja, on February 26th. However, Anjarwalla managed to escape from custody on March 22.

US Lawmakers Call for Immediate Action to Rescue Binance Executive in Nigeria

American legislators forwarded a letter recently addressed to US President Joe Biden, Secretary of State Antony Blinken and Special Presidential Envoy for Hostage Affairs Roger Carstens, requesting that they take immediate action to rescue Binance executive Tigran Gambaryan, who is detained in Nigeria.

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The letter was signed by House Foreign Affairs Committee Chairman Michael McCaul and 15 other members of Congress. The document calls, as an emergency, for the case of Gambaryan, the exchange's head of financial crimes compliance, to be treated as a hostage situation. The letter highlighted that the Binance executive was refused adequate healthcare.

In the letter, the lawmakers emphasize that the three-month detention of Gambaryan, a US citizen, was marked by “excessive and harsh treatment.”

"Sir. Gambaryan's health and well-being are in danger and we fear for his life. Immediate action is essential to ensure your safety and preserve your life. We must act quickly before it is too late,” the parliamentarians wrote.

Considering a possible risk of executive flight, the Federal Supreme Court of Nigeria refused Gambaryan's bail request on May 17.

Disclaimer: The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.
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