Nigerian Court Set October for Binance Tax Evasion Trial

A Federal High Court in Nigeria has set October 11, 2024, as the commencement date for the trial against the cryptocurrency exchange giant Binance.

The crypto giant faces a four-count charge, which includes tax evasion and failure to register with the appropriate authorities for tax purposes. Binance executives have had similar charges dropped against them.

As these cases drag along the Nigerian court system, pressure is mounting for Gambaryan's release. The detention of the American citizen who was invited to Nigeria by the Federal Government of Nigeria with the hope of resolving the pending issues against Binance has prompted US congressman Rich McCormick to present a resolution to the House Committee on Foreign Affairs urging the US government to recognize and facilitate Mr. Gambaryan's release and urge the Nigerian government to release Gambaryan.

In his recent court appearance, Ayodele Omotilewa, Binance representative in Nigeria, pleaded not guilty to all four counts.