Title: Binance Compliance Officer Held in Nigerian Prison Amid Tax Evasion and Money Laundering Charges
When Tigran Gambaryan, a top compliance officer at Binance, flew to Nigeria for a business trip in late February, he never imagined he would end up in Kuje prison in Abuja. Gambaryan, along with a colleague, was detained by Nigerian authorities after meetings with government officials, leading to accusations of tax evasion and money laundering against them and Binance.
The situation escalated when Gambaryan’s colleague, Nadeem Anjarwalla, mysteriously escaped from custody, leaving Gambaryan behind. The Nigerian government demanded a hefty sum from Binance as retribution for allegedly impacting the country’s economy negatively.
The case sheds light on the challenges faced by the crypto industry in navigating legal complexities worldwide. Binance, the world’s largest crypto exchange, has been embroiled in legal troubles, including a $4.3 billion settlement with U.S. agencies for violating economic sanctions.
Gambaryan, a former law enforcement officer, had become a prominent figure at Binance, working on compliance issues and representing the company at international conferences. His arrest in Nigeria has sparked efforts by his family, friends, and U.S. officials to secure his release.
As Gambaryan awaits a bail hearing, the crypto industry faces scrutiny over its compliance with regulations in various countries. The incident underscores the challenges of operating in a sector built on technology designed to bypass traditional financial systems.
The story of Gambaryan’s detention in Nigeria highlights the complex interplay between the crypto industry, law enforcement, and regulatory authorities in different jurisdictions, with implications for the future of digital currencies and financial crime prevention efforts.
