Tigran Gambaryan, a Binance executive, was denied bail on his 40th birthday in Nigeria during a court hearing in Abuja. Judge Emeka Nwite cited concerns about Gambaryan potentially jumping bail if released. Gambaryan, along with Binance’s regional manager for Africa, Nadeem Anjarwalla, was detained in late February and charged with money laundering and tax evasion. Anjarwalla later fled on foot and is still at large, despite previous reports suggesting he was recaptured in Kenya.
Gambaryan’s wife, Yuki Gambaryan, expressed disbelief at her husband’s trial on charges she claims he had no involvement in. She called for common sense and justice to prevail so that Gambaryan can return home. Binance CEO Richard Teng publicly addressed the situation in a blog post, alleging that the Nigerian government had offered a $150 million bribe to settle the issues. The Binance team became concerned for their safety and left Nigeria, refusing the deal. When they were invited back for policy talks, they were detained.
The Nigerian government pushed back against Teng’s claims, dismissing them as lacking substance and labeling them as a diversionary tactic and attempted blackmail. The government stated that Binance is under investigation for allowing its platform to be used for money laundering, terrorism financing, and illegal trading. Gambaryan is scheduled for formal arraignment on May 22, but it is uncertain if Anjarwalla will be extradited to Nigeria if captured. The situation has sparked controversy and raised concerns about the safety of Binance employees in Africa.
The denial of bail for Gambaryan on his birthday highlights the seriousness of the charges against him and the ongoing legal battle between Binance and the Nigerian government. Gambaryan’s dedication to public service and fighting crime throughout his life has been emphasized by supporters who believe the charges are baseless. The case has garnered international attention, with Binance supporters calling for justice and fairness for Gambaryan as he faces trial in Nigeria. The conflicting narratives from Binance and the Nigerian government add complexity to the situation and raise questions about the transparency and fairness of the legal process.
Despite the Nigerian government’s denial of Teng’s claims, the allegations of bribery and corruption surrounding the case have fueled speculation and controversy. The lack of clarity regarding Anjarwalla’s whereabouts and possible extradition adds uncertainty to the situation. As Gambaryan awaits his formal arraignment, the outcome of the case remains uncertain, with implications for Binance’s operations in Nigeria and the broader cryptocurrency industry. The handling of this case could have lasting effects on Binance’s reputation and relationships with governments in Africa and beyond.
