{"id":20734,"date":"2024-05-18T09:30:58","date_gmt":"2024-05-18T06:30:58","guid":{"rendered":"https:\/\/coinengineer.io\/?p=20734"},"modified":"2024-05-18T09:14:13","modified_gmt":"2024-05-18T06:14:13","slug":"nigerian-court-denies-bail-to-binances-tigran-gambaryan","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/nigerian-court-denies-bail-to-binances-tigran-gambaryan\/","title":{"rendered":"Nigerian Court Denies Bail to Binance’s Tigran Gambaryan"},"content":{"rendered":"

An executive of Binance Tigran Gambaryan<\/strong> has been refused bail by Justice Emeka Nwite of the Federal High Court of Nigeria in Abuja. Gambaryan<\/strong> and Binance are being accused of tax evasion and money laundering in Nigeria.<\/p>\n

Nigerian news source The Nation reports that Nwite agreed with the prosecution’s contention that Gambaryan<\/strong> was a flight risk in a decision made on Friday. It is reported that the judge said in his decision that the nature and gravity of the offense should be taken into account when determining whether or not to provide the prisoner with bail.<\/p>\n

The chief of financial crime compliance at Binance<\/a> started his trial on a $35 million money laundering charge on Friday.<\/p>\n

Since arriving in Nigeria in late February, Gambaryan<\/strong> has been detained. He came into the nation to talk to the authorities about the functioning of the bitcoin exchange.<\/p>\n

Related:<\/span> Binance CEO Richard Teng Demands Release of Gambaryan<\/a><\/em><\/p>\n

While the Federal Inland Revenue Service of Nigeria is handling the tax violation accusation, the Nigerian Economic and Financial Crimes Commission is prosecuting the money laundering case. On April 8, Gambaryan<\/strong> entered a not guilty plea to the money laundering accusation.<\/p>\n

In response to the latest event, a Binance representative stated to The Block, “We are really concerned that Tigran Gambaryan<\/strong>\u2014who lacks decision-making authority within the company\u2014remains in custody. Tigran has spent the majority of his life serving the people and battling criminals. These accusations are totally without any basis. While talks between Binance and Nigerian government authorities continue, he ought to be set free.”<\/em><\/p>\n

Speaking out on Gambaryan’s<\/strong> continued imprisonment, Binance CEO Richard Teng<\/a> declared that the compliance officer of the cryptocurrency exchange is “innocent and must be released.”<\/p>\n

Following their arrival in Abuja, the capital city of Nigeria, on February 26, Binance’s Africa regional manager Nadeem Anjarwalla and U.S. citizen Gambaryan<\/strong>, who is in charge of financial crime compliance at the cryptocurrency exchange, were arrested. They were charged criminally with money laundering and tax evasion on February 28. Anjarwalla then managed to get out of jail on March 22.<\/p>\n

Teng said in a blog entry earlier this month, “To invite a company\u2019s mid-level employees for collaborative policy meetings, only to detain them, has set a dangerous new precedent for all companies worldwide.”<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

An executive of Binance Tigran Gambaryan has been refused bail by Justice Emeka Nwite of the Federal High Court of Nigeria in Abuja. Gambaryan and Binance are being accused of tax evasion and money laundering in Nigeria. Nigerian news source The Nation reports that Nwite agreed with the prosecution’s contention that Gambaryan was a flight<\/p>\n","protected":false},"author":6,"featured_media":20735,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[22,3429,5922],"class_list":["post-20734","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-binance","tag-nigeria","tag-tigran-gambaryan"],"yoast_head":"\nNigerian Court Denies Bail to Binance's Tigran Gambaryan - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Binance executive Tigran Gambaryan denied bail in Nigeria amid money laundering and tax evasion charges, despite company protests.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/nigerian-court-denies-bail-to-binances-tigran-gambaryan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nigerian Court Denies Bail to Binance's Tigran Gambaryan - 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