Biden Thanks Tinubu for Help in Releasing Binance Official

Crypto News

Joe Biden Thanks Nigerian President for Help in Releasing Binance Official

Written by Gode S.,

Web3 Market Analyst

Last Updated: October 30, 2024

Key Takeaways

Binance executive Tigran Gambaryan was detained in Nigeria for nearly eight months on charges of tax evasion and money laundering, which were eventually dropped;
US President Joe Biden thanked Nigerian President Bola Tinubu for releasing Gambaryan on humanitarian grounds;
Gambaryan faced deteriorating health during detention.

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Joe Biden Thanks Nigerian President for Help in Releasing Binance Official

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After enduring nearly eight months in detention, Tigran Gambaryan, Binance's $5.41B head of compliance for financial crimes, has been freed by Nigerian authorities.

In a telephone conversation, US President Joe Biden thanked Nigeria's President Bola Tinubu for his role in securing Gambaryan's release on humanitarian grounds.

Gambaryan and his associate, Nadeem Anjarwalla, were apprehended upon their arrival in Abuja on February 26. Their trip aimed to address concerns about Binance's operations and purported irregular transaction activities linked to the cryptocurrency platform. The Nigerian government detained them for suspected financial misconduct.

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Anjarwalla reportedly escaped custody in March, fleeing to Kenya, while Gambaryan remained to face accusations of tax evasion and money laundering.

His extended detention without resolution raised questions about legal due process and his rights as a detainee. During his confinement at Kuje Prison, his health deteriorated, suffering from issues such as pneumonia, malaria, and back pain. In September, a video emerged online showing Gambaryan struggling to walk during a court appearance.

Despite this, authorities consistently postponed hearings and denied bail, expressing concerns over potential flight risks.

By June, charges of tax evasion against both Gambaryan and Anjarwalla were dismissed due to insufficient evidence. The money laundering allegations were subsequently dropped in October. On October 23, Gambaryan was finally allowed to depart Nigeria, reuniting with his loved ones and colleagues.