Binance, the cryptocurrency exchange giant, remains at the center of controversy as it faces allegations of involvement in the detention of its Head of Financial Crime Compliance (FCC), Tigran Gambaryan, in Nigeria. Despite these allegations, Binance has maintained its stance and continues to navigate the situation.
The Nigerian authorities have charged both Gambaryan and Nadeem Anjarwalla, Binance’s Regional Manager for Africa, who were detained in February. Anjarwalla, however, managed to flee the country on March 25th, while Gambaryan remains in custody.
The allegations against Gambaryan and Anjarwalla are related to the manipulation of the Nigerian currency exchange rate, the naira, and tax evasion. Binance, on the same day as the arrests, denied Gambaryan’s involvement in any financial decision-making and emphasized that he held no decision-making power within the company.
In an attempt to protect Gambaryan, a Binance representative appealed to the Nigerian authorities to refrain from holding him responsible. This appeal was made during ongoing discussions between Binance and Nigerian government officials. These discussions served as a platform for Gambaryan to showcase his professional history, highlighting his collaboration with Nigerian authorities prior to his arrest.
Binance highlighted Gambaryan’s and his FCC team’s extensive collaboration with the Nigerian government, having provided information requests over 600 times. Through this cooperation, valuable information has been shared, aiding in the investigation and resolution of various cases, including fraud, money laundering, blackmail, kidnapping, and extortion. Binance also acknowledged the team’s contribution in training Nigerian judicial officers on the intricacies of digital assets.
Legal proceedings are underway, with the case against Binance continuing at the Eastern High Court and a separate lawsuit filed at the Federal High Court in Abuja, citing human rights violations. Local media reports suggest that Gambaryan and Anjarwalla were summoned for arraignment on April 4th on charges of tax evasion.
Throughout this legal drama, Binance remains committed to resolving the matter through dialogue with the Nigerian authorities. The company has expressed its support and willingness to address all concerns raised by the government.
The detention of Tigran Gambaryan, Binance’s compliance chief in Nigeria, has sparked controversy and allegations of currency manipulation and tax evasion. Binance, by refuting media claims regarding Gambaryan’s role and highlighting his lack of decision-making power, aims to participate in the ongoing discussions with the Nigerian authorities to resolve this misunderstanding in a fair manner.
Gambaryan and Anjarwalla are seeking justice through a lawsuit citing human rights violations as they await arraignment on tax evasion charges. This event underscores Binance’s dedication to finding solutions by engaging with Nigerian formal authorities.
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