Binance Tax Evasion Case Intensifies as Executive Nadeem Anjarwalla Escapes Detention.
Nadeem Anjarwalla, one of the Binance executives detained in Nigeria on charges of tax evasion and other offenses, has reportedly escaped lawful custody, according to sources familiar with the situation according to PREMIUM TIMES.
Sources indicate that on Friday, 22 March, Mr. Anjarwalla, aged 38, managed to escape from the guest house in Abuja where he and his colleague were being held after guards permitted him to attend prayers at a nearby mosque during the ongoing Ramadan fast.
Anjarwalla, a British national with Kenyan citizenship, is believed to have departed Abuja via a Middle Eastern airline. The circumstances surrounding his ability to board an international flight despite Nigerian authorities holding his British passport remain unclear. Efforts are underway to determine his destination and apprehend him.
An Immigration official mentioned that Anjarwalla used a Kenyan passport to flee Nigeria, raising questions about how he acquired it as he had no other travel documents besides his British passport upon detention.
Reports suggest that the detained executives enjoyed certain privileges at the guest house, including access to telephones, which Anjarwalla is suspected to have leveraged in planning his escape.
When contacted for comment, Zakari Mijinyawa, Head of Strategic Communication at the Office of the National Security Adviser, promised to investigate but has not provided further information.
Anjarwalla, serving as Binance’s Africa regional manager, along with Tigran Gambaryan, a US citizen overseeing financial crime compliance, were detained upon their arrival in Nigeria on 26 February 2024.
The Magistrate Court in Abuja had granted the Economic and Financial Crimes Commission (EFCC) a 14-day remand order for the duo on 28 February 2024, with the court later extending their detention by another 14 days due to Binance’s non-compliance with data provision requests.
On 22 March, the Nigerian government filed additional charges against Binance Holdings Limited, Anjarwalla, and Gambaryan for tax-related offenses under various tax laws.
These charges include failure to register with the Federal Inland Revenue Service (FIRS) and failure to issue invoices for value-added taxes (VAT) on services provided through the Binance platform, among others.
The Nigerian government’s crackdown on alleged money laundering and terrorism financing activities using the Binance platform has intensified, with claims of substantial undisclosed trading volumes and illicit activities impacting the Nigerian economy.
The detention of Binance officials in Nigeria follows the company’s recent settlement of criminal money laundering charges in the United States, wherein Binance founder and CEO Changpeng Zhao agreed to pay significant fines and step down from his position.
Anjarwalla’s escape adds a new dimension to the ongoing legal saga surrounding Binance’s operations and regulatory compliance in various jurisdictions.
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