The embattled senior executive of cryptocurrency exchange Binance, Tigran Gambaryan, has appealed for assistance from the government of the United States of America in a viral video recorded in detention.
In the video footage circulating online, Tigran Gambaryan revealed that he has been detained for a month, adding that he recently discovered his partner, Nadeem Anjarwalla, had escaped from lawful custody.
This marks the first public statement from the Binance executive since his detention on February 26, 2024.
Gambaryan emphasized that he had no involvement in Anjarwalla’s escape, noting that he has been a police officer all his life.
Before joining Binance as the head of financial crime compliance, Gambaryan served as an IRS agent in the United States.
Naijaonpoint reported on February 28th that Nigerian officials had detained two high-ranking executives from Binance, a prominent cryptocurrency exchange. Among those detained were Nadeem Anjarwalla, a 37-year-old British Kenyan serving as the regional manager for Africa, and Tigran Gambaryan, a 39-year-old American responsible for financial crime compliance at Binance.
Their visit to Nigeria coincided with the government’s recent crackdown on several cryptocurrency trading platforms.
While in the country, they were apprehended by the Office of the National Security Adviser (ONSA), with their passports seized.
In response to the detention of its executives, Binance decided to cease trading the Nigerian naira against popular cryptocurrencies like bitcoin and tether on its exchange platform.
In Nigeria, the cryptocurrency trading platform is confronting a slew of charges, encompassing allegations from money laundering to tax evasion, amounting to a staggering $35 million.
In March, for instance, legal action was taken by the Federal Inland Revenue Service (FIRS) in Abuja against Binance.
The FIRS leveled accusations of tax evasion against Binance, citing four specific instances. These allegations pertain to the failure to remit value-added tax (VAT) and company income tax (CIT), as well as non-compliance with tax return filing obligations.
Additionally, Binance is charged with facilitating tax evasion for its users.
Furthermore, the lawsuit initiated by the Federal Government alleges that Binance failed to register for tax purposes with the FIRS and violated the tax laws of the country.
So far, the Federal High Court adjourned the case against Binance and its two executives to May 17.
The case borders on money laundering and Tax evasion.
The case borders on money laundering and Tax evasion.
Other concerns by the government include allegations of manipulation of the local currency by peer-to-peer traders on the platform.
All parties involved have pleaded not guilty to any of the charges.
Binance and its team of executives are also facing a four-count charge of tax evasion in a separate trial that will resume on May 17.