Court to rule on Binance tax evasion case October 11

Justice Emeka Nwite of the Federal High Court, Abuja, has fixed October 11 for ruling in the trial of the popular cryptocurrency platform, Binance Holdings Limited, for alleged tax evasion.

The Federal Government arraigned the platform and its two directors on a four-count charge of tax evasion after it failed to register with the Federal Inland Revenue Service (FIRS) for tax purposes.

The crypto firm’s lawyer, Ayodele Omotilewa, appeared in court on Friday and pleaded not guilty to the charges.

He urged the court to dismiss all charges.

READ ALSO: EFCC to continue trial of Binance director, Gambaryan

After listening to the arguments from both parties, Justice Nwite adjourned the case till October 11.

This decision allows more time for further deliberation and review of the evidence presented by the parties.

The federal government in June dropped similar charges against Binance executives, Tigran Gambaryan and Nadeem Anjarwalla.

However, the duo are still facing separate money laundering charges which they both denied.

By: Babajide Okeowo

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