{"id":78251,"date":"2024-05-07T12:31:12","date_gmt":"2024-05-07T16:31:12","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=78251"},"modified":"2024-05-07T12:31:16","modified_gmt":"2024-05-07T16:31:16","slug":"nigerian-government-requests-150-million-bribe-binance-ceo-exposes","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/nigerian-government-requests-150-million-bribe-binance-ceo-exposes\/","title":{"rendered":"Nigerian Government Requests $150 Million Bribe, Binance CEO Exposes"},"content":{"rendered":"\n

Binance CEO, Richard Teng<\/a> claims Nigerian officials demanded $150M in bribes to halt legal action against executives; denies payment.<\/p>\n\n\n\n

\"Nigerian
Nigerian Government Requests $150 Million Bribe, Binance CEO Exposes<\/figcaption><\/figure>\n\n\n\n

On Tuesday, Binance, the largest cryptocurrency exchange<\/a> in the world, disclosed that Nigerian government officials demanded $150 million in bribes in exchange for acquittal in the legal proceedings against Binance executives Tigran Gambaryan and Nadeem Anjarwalla.\u00a0<\/p>\n\n\n\n

Binance was requested to conduct the covert cryptocurrency transaction through one of its exchange accounts. Officials have been denied payments by the executives.<\/p>\n\n\n\n

Richard Teng, CEO of Binance Holdings, stated on May 7 that the administration of President Bola Ahmed Tinubu had contacted Binance employees in an attempt to launder money to resolve charges of tax evasion and money laundering.<\/p>\n\n\n\n

Binance attempted to establish communication with Nigerian authorities<\/a>, including a meeting on January 8, during which executives were accused of illicit activity.<\/p>\n\n\n\n

According to the New York Times and Peoples Gazette, Nigerian government officials were allegedly asked for bribes amounting to $150 million to eradicate the recent fraud charges. Binance has maintained that the allegations were without merit and unlawful, noting that its executives remained detained beyond the expiration of court orders.<\/p>\n\n\n\n

\n

As our employees were leaving the venue, they were approached by unknown persons who suggested to them to make a payment in settlement of the allegations. Binance lawyer was presented with a demand for a significant payment in cryptocurrency to be paid in secret within 48 hours to make these issues go away,\u201d<\/p>\nsaid Richard Teng<\/cite><\/blockquote>\n\n\n\n

Tigran Gambaryan and Nadeem Anjarwalla, both executives of Binance, were apprehended in February, precipitating the latest controversy for the cryptocurrency exchange following the resignation of Changpeng Zhao and the payment of $4.3 billion in fines to resolve allegations of money laundering by the U.S. DOJ. <\/p>\n\n\n\n

Nadeem Anjarwalla evaded apprehension by possibly bribing authorities with cryptocurrency to reach Kenya. Later, Kenyan authorities denied Anjarwalla's apprehension for evasion of capture.<\/p>\n\n\n\n

Nigerian authorities have indicted tax evasion and money laundering against both Binance and compliance officer Tigran Gambaryan. Nigerian authorities have attributed the depreciation of the national currency\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, the Naira, to cryptocurrencies, Binance in particular.\u00a0<\/p>\n\n\n\n

Richard Teng, the chief executive officer of Binance, advocates for releasing the company's executive Tigran Gambaryan amid the detention crisis in Nigeria, citing corporate integrity and justice. Gambaryan's trial was adjourned until May 17.  <\/p>\n","protected":false},"excerpt":{"rendered":"

Binance CEO, Richard Teng claims Nigerian officials demanded $150M in bribes to halt legal action against executives; denies payment. On Tuesday, Binance, the largest cryptocurrency exchange in the world, disclosed that Nigerian government officials demanded $150 million in bribes in exchange for acquittal in the legal proceedings against Binance executives Tigran Gambaryan and Nadeem Anjarwalla.\u00a0 […]<\/p>\n","protected":false},"author":36,"featured_media":78255,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[32],"tags":[2106,19466,19222],"class_list":["post-78251","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-exchange-news","tag-binance-ceo","tag-bribe","tag-nigerian-government"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/05\/Richard-Teng-Binance-CEO.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/78251","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/36"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=78251"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/78251\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/78255"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=78251"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=78251"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=78251"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}