The call for the release of Tigran Gambaryan, a Binance executive detained in Nigeria since February, has intensified, with industry leaders, international observers, and family members urging Nigerian authorities to free him on humanitarian grounds. Gambaryan’s arrest has sparked widespread concern over the conditions of his detention and the charges levied against him.
Tigran Gambaryan, who serves as Binance’s head of financial crime compliance and is a former special agent for the United States Internal Revenue Service, was detained along with his colleague, Nadeem Anjarwalla, following a meeting with Nigerian officials to address regulatory concerns. The Nigerian authorities initially charged both executives with tax evasion and money laundering.
Health Concerns and Humanitarian Appeal
Richard Teng, CEO of Binance, in a blog post dated August 27, highlighted the severe physical and mental impact of Gambaryan’s prolonged detention, describing the allegations as baseless. “There is no need to imprison an innocent employee to answer for any allegations against Binance,” Teng stated, noting that the exchange has resolved similar issues in other countries through collaborative means without harm to its employees.
Gambaryan’s wife, Yuki, revealed in a YouTube video that his health has severely deteriorated, suffering from malaria, pneumonia, and continuous severe pain, impairing his ability to walk and exacerbating his plight in detention.
While Gambaryan’s colleague, Anjarwalla, managed to escape to Kenya, he was later captured and now faces potential extradition back to Nigeria. Meanwhile, the Federal Inland Revenue Service of Nigeria dropped its tax evasion case against the executives in June, but Gambaryan is still slated for a court hearing on September 2 for the remaining charges by the Economic and Financial Crimes Commission (EFCC).
The international community, including U.S. lawmakers, has voiced concerns over the charges, urging President Biden to intervene for Gambaryan’s release. A petition initiated by Yuki Gambaryan has gathered over 5,000 signatures, appealing to the U.S. State Department, President Biden, and Nigerian authorities for his release.
Economic and Operational Impacts on Binance
In response to the regulatory and legal challenges faced in Nigeria, Binance announced in March that it would cease all transactions in Nigeria’s currency, the naira, marking a significant withdrawal from the Nigerian market. This decision came amidst reports of Nigeria seeking civil penalties against Binance, though the exchange denied claims of a $10-billion fine.
| Date | Event |
|---|---|
| Feb 2023 | Gambaryan and Anjarwalla detained in Nigeria. |
| Mar 2023 | Anjarwalla escapes; faces extradition. |
| June 2023 | Tax evasion charges dropped; money laundering charges remain. |
| Aug 2023 | Calls for Gambaryan’s release intensify; health concerns escalate. |
| Sept 2023 | Upcoming court hearing. |
The case of Tigran Gambaryan has highlighted significant issues concerning the treatment of foreign nationals, the application of international law, and the humanitarian implications of detention without adequate medical care. As the September court date approaches, the international community remains watchful and continues to advocate for Gambaryan’s immediate release and the fair treatment of all individuals involved.
Featured image credit: DALL-E by ChatGPT
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