The Binance tax evasion hearing, a significant event in the ongoing legal proceedings, has been postponed to May 17, 2024, casting a shadow over the alreàdy escalating court dispute.
The postponement occurred following arguments that arose because the prosecution, through its tax agency, the Nigerian Federal Inland Revenue Service (FIRS), failed to serve Binance officially on the allegations against the foreign exchange.
In defense of its action, the prosecution argued that Binance's official service was insignificant to the trial's progression, pointing out that Gimbaryan, Binance's executive, was physically present and could be charged in Binance's stead as the trading platform's executive.
This suggestion was, however, unacceptable to the defense. Speaking on behalf of his client, Chukwuka Ikuazom, Gambaryan's lawyer, pointed out the prosecution's suggestion as a legal anomaly in the Nigerian legal system.
Chukwuma Ikuazom cited the Nigerian constitution, which clearly stated that Gambrayan could not be forced to plead when the main defendant, Binance, did not receive an official charge.
After taking arguments from both parties, Judge Nwite, the presiding Judge, postponed the court hearing for Binance tax evasion to May 17, when he will give a ruling.
Money Laundering Charges Hearing To Begin On May 2
Meanwhile, aside from the tax evasion charges by FIRS, the Nigerian anti-thief agency, the Economic and Financial Crime Commission (EFCC), had also charged Binance and its executives for their roles in laundering over $35 million, for which the trial will begin on May 2.
Although Binance was not physically represented in the Nigerian court, the exchange disclosed on Thursday at the Token2049 crypto conference in Dubai that it is in close communication with Nigerian authorities to rectify the situation.
In the meantime, Gambaryan, who saw his application for bail rejected earlier, is charging the Nigerian government for violating his fundamental human rights, citing that the manner of his detention in the West African nation has infringed significantly on his right to freedom.
