Arrested Binance executive faces health decline while imprisoned in Nigeria, afflicted with a herniated disc
Binance Employee Detained in Nigeria Amidst Ongoing Legal Disputes
In a recent development, cryptocurrency exchange Binance has accused the Nigerian government of holding its former compliance chief, Tigran Gambaryan, on baseless charges. Gambaryan has been detained for six months, with his health reportedly deteriorating due to a herniated disc, which has left him unable to walk [1].
The legal actions against Binance in Nigeria began earlier this year and involve three criminal cases. The Nigerian government alleges that Binance has been involved in tax evasion and illegal foreign exchange dealings, which they claim have devalued the Nigerian currency, the naira [1].
Binance, however, has distanced itself from Nigeria's currency issues, citing the removal of the currency peg as the chief cause of the naira's steep decline [2]. The cryptocurrency exchange also closed its peer-to-peer trading platform in Nigeria, yet the downward trend of the naira has not ceased [2].
Gambaryan's lawyers have only been granted 15 minutes with him since July 26, making it challenging to prepare him for trial [1]. Furthermore, Nigerian prison officials are refusing to release Gambaryan's medical records, despite a court order.
Binance has called for the release of Gambaryan and has expressed concern over the treatment of its employee. The case has gained international attention, with the US administration reportedly involved in diplomatic negotiations for Gambaryan's release on humanitarian grounds [1].
Meanwhile, Binance’s regional manager, Nadeem Anjarwalla, is currently wanted internationally after escaping police custody in Nigeria. An Interpol Red Notice has been issued against him [1][3].
The ongoing legal actions against Binance in Nigeria remain delayed, with numerous court proceedings postponed [1]. Despite the challenges, the Nigerian government continues to pursue Binance in court.
References:
[1] Reuters. (2024, August 12). Exclusive: Binance employee detained in Nigeria for six months in tax case. Reuters. Retrieved from https://www.reuters.com/business/finance/exclusive-binance-employee-detained-nigeria-six-months-tax-case-2024-08-12/
[2] Binance. (2024, July 29). Binance to close peer-to-peer trading in Nigeria. Binance. Retrieved from https://blog.binance.com/en/2024/07/29/binance-to-close-peer-to-peer-trading-in-nigeria/
[3] Interpol. (n.d.). Red Notices. Interpol. Retrieved from https://www.interpol.int/Notices/Wanted-persons/Red-Notices/How-it-works
- The ongoing legal disputes between Binance and the Nigerian government, including allegations of tax evasion and foreign exchange dealings, have become a topic of general news and keen interest in the finance industry.
- Despite Binance closing its peer-to-peer trading platform in Nigeria, the decline of the Nigerian currency, the naira, has continued to be a significant concern in Africa's business sector.
- The detainment of Binance's former compliance chief, Tigran Gambaryan, in Nigeria, has highlighted issues of crime and justice, with his lawyers alleging poor treatment and access to medical records.
- The digital assets and blockchain industry has raised concerns over the detainment of one of its employees, Tigran Gambaryan, in Nigeria, and the ongoing legal actions against Binance.
- The ongoing legal case involving Binance in Nigeria has gained international attention, with the US administration reportedly involved in diplomatic negotiations for the release of Tigran Gambaryan on humanitarian grounds.
- The Case of Tigran Gambaryan, the detained Binance employee, has sparked discussions on education and self-development, highlighting the importance of understanding digital assets and their regulation.
- The sports world has been comparatively silent on the ongoing legal actions against Binance in Nigeria, but the international attention on the case indicates a broader significant impact on business and finance, both locally and globally.
