News

Binance Executive Arrested in Kenya, Facing Extradition Drama!

Key Points:

Nadeem Anjarwalla, a Binance executive, detained in Kenya after fleeing Nigeria amidst criminal charges.
Anjarwalla faces extradition to Nigeria, where charges of tax evasion and money laundering await him.
Amidst Anjarwalla’s ordeal, Binance undergoes legal scrutiny, while former CEO Changpeng Zhao awaits sentencing in the U.S.

Nadeem Anjarwalla, a British and Kenyan national employed at cryptocurrency exchange Binance, has been detained in Kenya following his flight from Nigeria in March.

Reports from Kenyan news outlets on April 22 reveal that local police apprehended Anjarwalla, potentially for extradition to Nigeria, where he faces criminal charges. Anjarwalla reportedly fled custody in Nigeria on March 22, exploiting a visit to a mosque for escape and utilizing his Kenyan passport to leave the country.

In February, Anjarwalla, alongside Binance executive Tigran Gambaryan, traveled to Nigeria amidst allegations of the exchange’s manipulation of the country’s fiat currency, the naira. Following Binance’s announcement of ceasing all naira transactions, authorities detained both individuals.

Details regarding Anjarwalla’s escape from Nigeria remain unclear, though reports suggest he departed from Abuja, Nigeria’s capital, using his Kenyan passport, as only his U.K. travel documents were seized.

Binance’s Legal Challenges Extend Beyond Anjarwalla’s Detention

Nigerian officials have pursued charges against BNB and Gambaryan in Anjarwalla’s absence. Anjarwalla, pleading not guilty to tax evasion and money laundering charges, saw his case return to court on April 19 after a brief adjournment.

Amidst these legal developments, Gambaryan’s wife initiated a petition to secure his return to the United States, portraying him as an “innocent man” caught in a larger scheme. Binance, distancing Gambaryan from decision-making authority within the company, appealed for his non-involvement in Nigeria-related activities.

In a separate case, former Binance CEO Changpeng Zhao awaits sentencing in the U.S. on April 30, having pleaded guilty to a felony charge. The outcome could entail up to 10 years’ imprisonment.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.