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Binance Compliance Chief Should Not Be Arrested By Nigerian Authorities, The Exchange Says

Key Points:

Binance issued a statement regarding the detention of their executive, Tigran Gambaryan, in Nigeria.
Binance Compliance Chief Gambaryan was charged with money laundering alongside colleague Nadeem Anjarwalla, who reportedly fled the country.
Nigerian authorities, in collaboration with Interpol and other agencies, are working to locate and extradite Anjarwalla back to Nigeria.

Binance released a statement addressing the detention of their executive, Tigran Gambaryan, in Nigeria.

Tigran Gambaryan (left) and Nadeem Anjarwalla

Charges Filed Against Binance Compliance Chief for Money Laundering

Binance Compliance Chief Gambaryan, an American citizen, previously served as a federal agent for a decade, specializing in national security and terrorism financing investigations. However, Binance clarified that Gambaryan is not part of its management team and solely operates as a law enforcement professional.

The company emphasized Gambaryan’s role in assisting with compliance issues since joining in 2021, highlighting his efforts in enhancing the Financial Crime Compliance team’s capabilities. Despite being detained alongside colleague Nadeem Anjarwalla, who has reportedly fled the country, Binance stressed Gambaryan’s lack of decision-making authority within the company.

International Efforts Underway to Extradite Fugitive Binance Colleague

Furthermore, Binance has been engaged in discussions with Nigerian officials, urging that Gambaryan not be held responsible due to his limited role in the organization. Meanwhile, inquiries regarding Anjarwalla’s whereabouts remain unanswered by Binance.

The situation escalated when Gambaryan and Anjarwalla were charged with money laundering offenses amounting to $35.4 million at the Federal High Court in Abuja. While the Binance Compliance Chief remains in custody, efforts are underway by Nigerian authorities, including cooperation with Interpol, the FBI, and other governments, to locate and extradite Anjarwalla back to Nigeria to face charges.

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Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.