Binance Leaders Facing Charges For Illegal Money Activities

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In an upcoming court session at Abuja Federal High Court, two Binance executives, Tigran Gambaryan and Nadeem Anjarwalla, are set to face trial for alleged involvement in money laundering. The trial, presided over by Justice Emeka Nwite, will address two separate charges brought against them.

The Economic and Financial Crimes Commission (EFCC) filed one charge involving five counts related to money laundering, while the Federal Inland Revenue Service (FIRS) filed another with four counts concerning tax violations. Anjarwalla, who evaded custody on March 22, will be tried in absentia.

The EFCC alleges that the Binance executives were involved in laundering approximately $35,400,000 between January 2023 and January 2024 in Abuja, violating banking laws.

The FIRS charge accuses them of failing to register with the FIRS for tax purposes while providing services to subscribers, on the Binance platform.

Justice Nwite had previously ordered Binance to provide the EFCC with trading data from its Nigerian platform to investigate suspicions of money laundering, and terrorism financing activities.

 

 

 

 

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