Binance Executive's Money Laundering Case Continues in Nigeria Amid Calls for Release
Summary:
The Economic and Financial Crimes Commission (EFCC) proceeds with a money laundering suit against Binance Ltd and its executive, Tigran Gambaryan. This follows after a court dismissed related tax evasion charges brought up by the Federal Inland Revenue Service (FIRS). In reaction to these events, Tigran's wife calls for his release, while U.S. congress members visit him in prison, reporting his poor health and advocating for his humanitarian release. The case began with the detention of Binance executives in Nigeria back in February, who were facing charges of tax evasion and money laundering.
The continuation of a money laundering case by the Economic and Financial Crimes Commission (EFCC) against Binance Ltd, a cryptocurrency platform, and executive Tigran Gambaryan was seen on Thursday, June 20, with a resulting plea from his wife, Yuki Gambaryan. EFCC's head lawyer, Ekele Iheanacho, was reportedly present in court, allowing the cross-examination of Abdulkadir Abbas, the Securities Exchange Commission’s director.
Just a few days ago, the court dismissed tax evasion charges related to Binance brought against Tigran Gambaryan, a 39-year-old American, and Nadeem Anjarwalla who was absconding. The Federal Inland Revenue Service (FIRS) submitted the case on Friday, June 14. The court delivered a concise ruling following an adjustment in the FIRS’s charges due to a notification from Binance regarding the appointment of a Nigerian representative, Ayodele Omotilewa.
Tigran Gambaryan's wife, Yuki, communicated her bewilderment to the media as to why the EFCC doesn't align with the FIRS's decision to clear her husband. She further entreated the US government to hasten his release saying Nigeria, a recipient of their tax aid, should conduct itself as an ally and exert more efforts in setting her innocent husband free.
In a bid to secure Gambaryan's freedom, US Congress members Chrissy Houlahan and French Hill visited him in Kuje Prison in Nigeria on June 20. They reported Gambaryan's ill-health, including malaria, double pneumonia and significant weight loss as a result of medical neglect. They thus called for his instant humanitarian release due to the dire prison circumstances and his declining health. This visit followed the joint letter by 18 US Congress members to President Biden and Secretary of State Antony Blinken, urging them to facilitate Gambaryan’s release.
The case's backdrop includes the detention of Binance regional manager Nadeem Anjarwalla and Binance head of financial crime compliance Tigran Gambaryan in Nigeria on Feb. 26. Gambaryan had journeyed from the United States to partake in the company’s defense against the charges of tax evasion and money laundering. Both Binance and its executives were confronted with two distinct charges filed by the FIRS and EFCC, featuring tax evasion and contravention of money laundering and foreign exchange laws.
Published At
6/21/2024 10:08:56 AM
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