Nigerian Authorities Issue Arrest Warrant for Binance Executive on Money Laundering Charges

A Nigerian federal high court has recently ordered Tigran Gambaryan, a senior executive at Binance, to be remanded in Abuja’s prison for over a week following charges of money laundering. 

Gambaryan, the head of financial crime compliance at Binance, pleaded not guilty to the five counts against him. His bail hearing is set for April 18th. Last month, Nigeria’s EFCC accused Binance, Gambaryan, and colleague Nadeem Anjarwalla of operating without a license. Negotiating foreign exchange rates unlawfully, tax evasion, and concealing illegal proceeds totaling $35.4 million. Anjarwalla’s location is currently unknown after allegedly escaping custody. Gambaryan’s lawyer notes that his detention exceeds statutory provisions. 

Binance has emphasized Gambaryan’s law enforcement background in negotiations with Nigerian officials, stressing his lack of decision-making power within the company.

Clever Robot News Desk 11^th April 2024