Binance Exec Legal Battle Escalates

The wife of Binance exec Gambaryan expressed her surprise at the Nigerian law enforcement agency’s refusal to release her husband, citing the FIRS’s rebuttal.

On Thursday, June 20, the Economic and Financial Crimes Commission (EFCC) pursued its money laundering case against Binance Ltd, a cryptocurrency platform, and its executive, Tigran Gambaryan. This prompted a response from his wife, Yuki Gambaryan.

Local media reported that Ekele Iheanacho, the leading counsel of the EFCC, was present during the proceedings, which allowed for the cross-examination of Abdulkadir Abbas, the director of the Securities Exchange Commission.

This development occurred mere days after the court absolved Tigran Gambaryan, a 39-year-old American, and Nadeem Anjarwalla, who had fled, of tax evasion charges associated with Binance in a case brought by the Federal Inland Revenue Service (FIRS) on Friday, June 14.

The court issued a brief ruling in response to the FIRS’s newly amended charges, which were initiated in response to a notification from Binance regarding the appointment of a Nigerian representative named Ayodele Omotilewa.

Family response

Yuki, the wife of Tigran Gambaryan, conveyed her perplexity regarding the EFCC’s failure to emulate the FIRS and release her husband in a press statement. Additionally, she encouraged the United States government to expedite his release. She stated,

“It is time for the Nigerian authorities to do the right thing and let my innocent husband go. Tigrans and my own tax dollars get sent to Nigeria in aid every year. Nigeria is supposed to be an ally. I refuse to believe that our State Department cannot do more to have an innocent American citizen released.”

Lawmakers advocate Binance exec release.

On Thursday, June 20, Chrissy Houlahan and French Hill, members of the U.S. Congress, encountered Tigran Gambaryan at Kuje Prison in Nigeria. Gambaryan, they contend, has experienced malaria and double pneumonia, as well as significant weight loss, as a result of inadequate medical care.

Houlahan and Hill have requested Gambaryan’s urgent humanitarian release due to his poor health and the unsanitary conditions of the prison.

The legislators’ visit was precipitated by a joint letter written by 18 members of the United States Congress to President Biden and Secretary of State Antony Blinken, which requested that they intervene to secure Gambaryan’s release.

Background of the case

On February 26, Nadeem Anjarwalla, the regional manager of Binance, and Tigran Gambaryan, the chief of financial crime compliance at Binance, were apprehended in Nigeria. Gambaryan had relocated to the country from the United States to assist in the company’s defense against allegations of tax evasion and money laundering.

The FIRS and EFCC each filed two distinct lawsuits against Binance and its executives. The former was on the brink of tax evasion, whereas the latter involved money laundering and foreign exchange contravention.