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    Arraignment of Binance Executive suffers setback

    The arraignment of Binance Holdings Limited and two of its executives, Tigran Gambaryan and Nadeem Anjarwalla, on Thursday, April 4, could not proceed due to the inability of the Federal Inland Revenue Service (FIRS) to effect service of the charge on the defendants.

    The FIRS arraigned Binance Holdings Limited, Gambaryan and fleeing Anjarwalla, on allegations bordering on tax evasion.

    In the charge marked FHC/ABJ/CR/115/2024, the defendants are being charged on a four-count charge bordering on alleged tax evasion. In the charge dated and filed March 22 by the FIRS, the defendants were alleged to have committed the offence on or about February 1.

    Count one alleged that while involved in carrying and offering services to subscribers on their platform, known as Binance, it failed to register with the FIRS for the purpose of paying all relevant taxes administered by the service.

    The offences are said to be punishable under Sections 8 and 29 of the VAT Act of 1993 (as Amended), Section 40 of the FIRS Establishment Act, 2007 (as amended) and under provisions of Section 94 of the Companies Income Tax Act (as amended) respectively. (NAN)

    Only Gambaryan was represented by a lawyer today at the Federal High Court, Abuja.

    Binance Holdings Limited and Anjarwalla, who recently escaped from lawful custody, did not have lawyers present to represent them.

    Meanwhile, Gambaryan’s lawyer, Chukwuka Ikwuazo (SAN), told the court that his client had not been served with the charge, hence, his arraignment cannot proceed.

    FIRS lawyer, Moses Ideho, acknowledged that the agency had not served Gambaryan with the charge as all efforts to do so proved abortive because the defendant could not be reached at the EFCC detention. Ideho then prayed the court to serve Gambaryan in the open court and the judge directed that the charge be served on him in the dock.

    Gambaryan’s lawyer, therefore, sought a stand-down of the matter or an adjournment to enable him to consult with his client.

    The matter was adjourned until April 19 for him to take his plea.

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