Key Takeaways:
- Nigerian authorities confirm ongoing legal actions against Binance and its executive, Tigran Gambaryan, for alleged financial crimes.
- Accusations include money laundering and tax evasion, with Nigerian courts denying bail to Gambaryan due to flight risk concerns.
- Binance is set to defend itself in court on June 20, 2024, amid additional lawsuits from Nigerian regulatory bodies.
The Nigerian Minister of Information, Mohammed Idris, has confirmed that the legal actions against the cryptocurrency exchange Binance and its executive, Tigran Gambaryan, for alleged illicit activities in Nigeria, are progressing as per local legal standards.
The accusations involve serious financial crimes, including money laundering and tax evasion.
Press Release
— Fed Min of Info & Nat’l Orien (@FMINONigeria) June 5, 2024
Binance Will Face All Due Process On Charges Of Severe Financial Crime – FG
Against the backdrop of continuing interest in the ongoing trial of rogue online platform, @binance , and one of its Chief Executives, who illegally trade in cryptocurrency in Nigeria,… pic.twitter.com/WoxVPkOp92
Despite claims by U.S. politicians that the charges are baseless and constitute an extortion attempt, the Nigerian authorities have denied bail to Gambaryan citing his high flight risk, highlighted by the flight of a co-defendant.
Legal proceedings are thorough, with Binance set to defend itself in court on June 20, 2024.
NIGERIAN AUTHORITIES DEFEND PROSECUTION OF BINANCE'S TIGRAN GAMBARYAN: WHAT WE KNOW
— BSCN (@BSCNews) June 6, 2024
– The Nigerian Minister of Information, Mohammed Idris, stated that the trial of Binance and its executive, Tigran Gambaryan, for illegal cryptocurrency trading in Nigeria is according to the… https://t.co/KZ16Omm3Dk pic.twitter.com/iU4xbK12is
Binance faces additional lawsuits from Nigerian regulatory bodies concerning tax and foreign exchange violations.
About The Author
Fleming Airunugba, a seasoned Web3 and crypto content expert, leverages his deep understanding of blockchain technology to bring the latest and most impactful news to the crypto community.
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