- Binance executive Tigran Gambaryan and his colleague were arrested in February 2024.
- The Nigerian government charges them with money laundering and tax evasion.
In the past few months, Nigeria and the USA have contested over the arrest of Binance Executive and US citizen, Tigran Gambaryan. This ongoing battle regarding Gambaryan’s prosecution has caught the market’s attention. Mohammed Idris, Minister of Information, made a statement on Wednesday defending Nigeria’s take on the case. He stated that the prosecution is in accordance with the country’s rules and procedures.
Additionally, the minister included that Binance will have the opportunity to defend its case on June 20. Tigran Gambaryan is detained currently in a high-security prison in Ahuja, Nigeria, the Kuje Correctional centre. Gambaryan and his colleague were arrested on charges of tax evasion and money laundering.
The Story Behind Binance Executive’s Prosecution
Binance executive Tigran Gambaryan (US Citizen) and his colleague Nadeem Anjarwalla in February 2024. The charges filed against them were two lawsuits, from the Federal Inland Revenue Service and the Economic and Financial Crimes Commission.
Notably, the Revenue Service charged them with tax evasion while the Crimes Commission filed a lawsuit on money laundering. Additionally, Gambaryan’s colleague Nadeem Anjarwalla evaded custody and escaped to Kenya using a fake passport in March 2024. Anjarwalla is a member of the Kenya Blockchain Association.
Following this, on June 4 sixteen US politicians wrote a letter to President Joe Biden appealing to take action. They asked the president and the Presidential Envoy for Hostage Affairs to ensure immediate action and that they feared for Gambaryan’s life.
Moreover, they stated that the Nigerian government is holding Binance executive hostage under ‘baseless crimes’. The recent statement made by Nigeria’s minister of Information was a response to the US politicians’ allegations.
The minister stated that the government is processing Gambaryan according to legal proceedings at every stage. Additionally, he stated that the prosecutors have sufficient evidence against the exchange platform and Tigran Gambaryan. However, Binance has denied the charges stating that Gambaryan had no decision-making power.
Meanwhile, recently the former CEO of Binance Changpeng Zhao, was sentenced to four months in jail at the US District Court in Seattle.
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