US Lawmakers Visit Detained Binance Executive in Nigeria

US Lawmakers Visit Detained Binance Executive in Nigeria


Good day everyone,

I hope you are all having a good day, welcome to CryptoGod-1's blog on all things crypto. In this post I will be looking at the recent visit of US lawmakers to Kuje Prison in Nigeria, where detained Binance executive Tigran Gambaryan is being held.

 

 

Lawmakers Visit

The US lawmakers French Hill and Chrissy Houlahan made a visit to see detained Binance executive Tigran Gambaryan, as noted in an X post on June 20th 2024. Hill described Gambaryan’s detention as wrong and in what he described as a “horrible prison,” bringing attention to the health concerns Gambaryan is facing while in custody. He has been suffering from malaria, double pneumonia, and significant weight loss, and Gambaryan is being denied adequate medical care. He noted:

 

“We found him suffering from the conditions [at the Kuje prison]… Even worse, he’s being denied access to adequate medical attention.”

 

Hill went on to state that the situation is one of irony, as Gambaryan is facing charges such as money laundering and tax evasion, which he has actively fought against. Hill also called for Gambaryan’s immediate humanitarian release while stressing that he should be allowed to return home to the United States.

Gambaryan is a US citizen and he heads Binance's financial crime compliance department, and he was apprehended alongside Nadeem Anjarwalla, Binance’s regional manager for Africa. Anjarwalla, however, managed to escape custody on March 22.

The visit by the US lawmakers is one element of a growing effort by politicians and former federal agents to secure Gambaryan’s release. Many letters have been sent to the State Department advocating for his release, and his wife, Yuki Gambaryan, expressed confusion and frustration over his continued detention.

She has urged the US government to secure his release by intensifying their efforts and she has stated that more could be done by the State Department to secure the release of an innocent American citizen.

Gambaryan’s legal troubles in Nigeria continue to escalate as recently the Economic and Financial Crimes Commission (EFCC) resumed its money laundering case against Binance and Gambaryan back on the 20th of June 2004.

Witnesses, including Abdulkabir Abbas, a Director with Nigeria’s Securities and Exchange Commission (SEC), have been cross-examined during the session and Abbas testified that Binance had failed to register with his office before commencing operations in Nigeria. In 2023, the Nigerian SEC declared Binance’s operations illegal and warned the public against using the platform.

There was a court ruling on the 14th of June 2024 which cleared both Gambaryan and Anjarwalla of tax evasion charges, which had been initially filed against the pair in March of this year. The allegation alleged that they had failed to pay taxes on cryptocurrency transactions worth billions of naira.

Binance have been accused of not paying value-added tax, company tax, and failure to file tax returns. The government of Nigeria have been cracking down on cryptocurrency trading platforms, accusing them of influencing foreign exchange rates. The EFCC is separately prosecuting Binance and its executives over alleged money laundering and foreign exchange contravention.

 

 

 

 

Have a great day.

Peace. CryptoGod-1.

 

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cryptogod-1
cryptogod-1

Writer, designer, creator, and life enthusiast. I love to read and write and enjoy sharing my passion for crypto, sports, literature and everything and anything I can enjoy in life.


CryptoGod-1 : Crypto & Blockchain
CryptoGod-1 : Crypto & Blockchain

Enthusiast here looking to share my ideas, thoughts, analysis, and experience when it comes to all things crypto

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