Arrested last February by Nigerian authorities and then placed in pretrial detention, Tigran Gambaryan, head of financial crime compliance for Binance, will be tried in conditions that are, to say the least, surprising.
Tigran Gambaryan charged with money laundering in Nigeria, trial begins
This Monday, theBinance Financial Crimes Compliance Officer Tigran Gambaryan's Trial Begins in Nigeria. Considered one of the exchange's executives, the Binance employee was arrested by Nigerian authorities in February 2024 due to accusations against him.
It all started last February when The African country had accused Binance of participating in the fall of the nairathe local fiat currency. Indeed, according to Nigeria, the platform has enabled the country's citizens to carry out peer-to-peer trading without being registered, even though the legislative framework required it.
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Faced with this situation, Nigerian authorities then proceeded to arrest Nadeem Anjarwalla and Tigran Gambaryan. The first one managed to escape from where he was being held captive, before taking off to an unknown destination. At present, Nadeem Anjarwalla is nowhere to be found.
For the second, the 6 months he spent in detention were not easy. And for good reason, The accusations against Tigran Gambaryan have escalated.
He is now charged with financial crimes, including money laundering, totaling $34 million.Nigerian authorities say he used Binance's operations in the country to commit his crimes.
For his part, Tigran Gambaryan tried to defend himself. He accused Nigeria's National Security Adviser and the Economic and Financial Crimes Commission of violating his fundamental rights.
Repeatedly, Binance chief orders law enforcement to release him immediatelythat his passport be returned to him and that a public apology be made to him. In vain.
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Deteriorating health and no way to contact a lawyer
Furthermore, in recent weeks, Tigran Gambrayan's health condition has deteriorated. His family expressed concern about this and explained that these health complications were due to neglect:
He can no longer walk because of pain from his untreated herniated disc and a spinal injury. The prison also refuses to provide him with a wheelchair.
Originally planned for earlier in the summer, The trial was postponed by a few weeks to allow Tigran Gambrayan to get back on his feet. However, his health does not appear to have improved.
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Also, Binance's Financial Crime Compliance Officer reportedly had difficulty contacting his legal team as Nigerian authorities prevented him from doing so. Indeed, this is what the CEO of the firm, Richard Teng, stated on August 27, denouncing this situation and demanding the release of his collaborator:
In addition, the authorities refuse to [à Tigran Gambaryan] to consult a lawyer, while his trial is due to begin on 2 September, which, we were informed,
is unconstitutional in Nigeria. […] I call once again on the Nigerian government to allow him to return home to his family for humanitarian reasons so that he can receive appropriate medical treatment in the United States.
A call that received no response from the Nigerian governmentthe trial of Tigran Gambrayan having started this Monday, September 2.
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Source : Nairametrics
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Surprised by the rise of crypto-assets in the late 2010s, I started to closely follow this sector that fascinates me to the highest degree. When I am not in football stadiums, rugby or handball halls, I work on writing relevant articles about cryptocurrencies and more broadly, Web3.
Zacharie Tazrout
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