{"id":97505,"date":"2024-10-24T18:10:33","date_gmt":"2024-10-24T22:10:33","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=97505"},"modified":"2024-10-24T18:11:01","modified_gmt":"2024-10-24T22:11:01","slug":"binance-exec-exit-nigeria","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/binance-exec-exit-nigeria\/","title":{"rendered":"Binance Exec Exit\u00a0Nigeria After Final Charges Get Dropped"},"content":{"rendered":"\n

Binance's head of financial crime compliance, Tigran Gambaryan,<\/a> returns home for medical treatment after eight months in Nigeria and court\u00a0delays.<\/p>\n\n\n\n

\"Binance<\/figure>\n\n\n\n

Tigran Gambaryan, a Binance executive previously facing charges of tax evasion and money laundering in Nigeria, has left the country\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> after spending eight months in detention.<\/p>\n\n\n\n

In a statement, a family spokesperson confirmed that Gambaryan departed Nigeria on October 23, following the dismissal of money laundering charges against him, which were the last remaining legal issues after tax evasion charges were dropped in June. <\/p>\n\n\n\n

Gambaryan, the head of financial crime compliance at Binance, was freed by Nigeria's Economic and Financial Crimes Commission (EFCC).<\/p>\n\n\n\n

\n

\u201cIt is a huge relief that this day has finally come,\u201d said Gambaryan\u2019s wife, Yuki, in a statement. \u201cThe past eight months have been a living nightmare. I wish it hadn\u2019t taken this long for his release, or that his health had not declined so much, but we can now focus on healing as a family. I want to express my deepest gratitude to the US government for their efforts in securing his release.\u201d<\/p>\n<\/blockquote>\n\n\n\n

During his detention since February, Gambaryan\u2019s health reportedly worsened, with his family and Nigerian sources highlighting serious conditions such as pneumonia, malaria, and a herniated disc that might require surgery.<\/p>\n\n\n\n

A video released in September showed Gambaryan struggling to walk to court, which sparked outrage, including from Binance CEO Richard Teng.<\/p>\n\n\n\n

Timeline of Events<\/h2>\n\n\n\n

Binance executives Nadeem Anjarwalla and Gambaryan traveled to Abuja on February 25 to address concerns over the crypto exchange\u2019s operations. <\/p>\n\n\n\n

Nigerian authorities had been investigating “suspicious flows” through Binance's Nigerian branch, and both men were detained on February 26.<\/p>\n\n\n\n

In March, Anjarwalla allegedly escaped detention, leaving Nigeria with his Kenyan passport and possibly fleeing to Kenya, where extradition back to Nigeria was being considered. Both executives were charged with tax evasion.<\/p>\n\n\n\n

On March 5, Binance announced its withdrawal from the Nigerian market by ceasing services involving the Nigerian naira. <\/p>\n\n\n\n

Shortly after, the EFCC charged Gambaryan and Anjarwalla with money laundering, involving more than $35 million.<\/p>\n\n\n\n

On April 8, Gambaryan appeared in court, pleading not guilty to the money laundering charges, but was denied bail and sent to Kuje Prison.<\/p>\n\n\n\n

Corruption Allegations and Health Concerns<\/h2>\n\n\n\n

In May, Binance\u2019s CEO Richard Teng hinted that Nigerian officials may have attempted to extort the exchange to resolve the charges. The same month, Gambaryan\u2019s family reported his deteriorating health, including cases of malaria.<\/p>\n\n\n\n

By June, calls for Gambaryan\u2019s release intensified, with U.S. lawmakers and former prosecutors pressing for intervention. Representatives French Hill and Chrissy Houlahan visited him in prison, reporting his poor health and weight loss.<\/p>\n\n\n\n

On June 14, Nigeria\u2019s Federal Inland Revenue Service dropped the tax evasion charges against both executives. The remaining money laundering charges<\/a> were finally dismissed in October, ending the case.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Binance’s head of financial crime compliance, Tigran Gambaryan, returns home for medical treatment after eight months in Nigeria and court\u00a0delays. Tigran Gambaryan, a Binance executive previously facing charges of tax evasion and money laundering in Nigeria, has left the country after spending eight months in detention. In a statement, a family spokesperson confirmed that Gambaryan […]<\/p>\n","protected":false},"author":56,"featured_media":97596,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[326,11863,1056,1437,350,1502,4380],"class_list":["post-97505","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-binance","tag-crimes-2","tag-law","tag-money-laundering","tag-nigeria","tag-regulation","tag-taxes"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/10\/Binance-Exec-Exit-Nigeria-After-Final-Charges-Get-Dropped.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/97505","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\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=97505"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/97505\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/97596"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=97505"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=97505"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=97505"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}