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Escaped Binance Executive Shakes Nigeria’s Tax Evasion Case
Binance has confirmed that one of its executives, Nadeem Anjarwalla, who was detained by Nigerian authorities, has successfully escaped custody. While the company expresses its relief at his safety, concerns linger as another executive, Tigran Gambaryan, remains in the custody of Nigerian authorities.
The Escape
Anjarwalla, a dual citizen of Kenya and the UK, made his daring escape during Friday prayers at a mosque in Abuja on March 22. Using a Kenyan passport, he boarded a flight operated by a Middle Eastern airline, leaving authorities puzzled over how he acquired this passport while in detention. There are suspicions of premeditation, as Anjarwalla reportedly had access to certain privileges during his time in custody.
While Nigerian authorities have not released an official statement, rumors circulate about covert operations to track and return Anjarwalla to custody. The situation remains tense as the escape adds another layer of complexity to the ongoing tensions between Binance and Nigeria.
Tax Evasion Allegations
Nigeria has recently filed a four-count tax evasion charge against Binance Holdings and the detained executives, including allegations of complicity in tax fraud. The case is pending trial at the Federal High Court, underscoring the serious legal repercussions of the situation.
These developments come amidst accusations by Nigerian authorities that Binance worsened foreign exchange challenges through alleged rate manipulation for personal gain. The exchange’s website was blocked, and the detention of the executives further strained relations. Despite a directive from the High Court for Binance to provide user data to the Economic and Financial Crimes Commission, compliance remains pending.
The international community, particularly crypto organizations in the US and Kenya, has criticized the Nigerian government’s actions, calling for a resolution to the escalating tensions. The fallout from this incident highlights the complex interplay between regulatory authorities and major crypto exchanges, with far-reaching implications for the industry at large.
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