News

Binance Exec Tigran Gambaryan Is Still Waiting for Hope to Be Released in Nigeria

Key Points:

  • Binance is actively improving its compliance framework, addressing past issues, and enhancing current processes under the leadership of CCO Noah Perlman.
  • Binance exec Tigran Gambaryan was detained in Nigeria in February 2024 on charges of money laundering and tax evasion.
  • U.S. Representatives have introduced a resolution calling for Gambaryan’s immediate release.
Noah Perlman, Binance’s Chief Compliance Officer, has emphasized the company’s dedication to evolving its compliance framework.

Read more: Binance Executive Gambaryan Objects to Court Charges, Returns To Jail Waiting for Next Trial

Binance Exec Tigran Gambaryan’s Detention in Nigeria and Health Crisis

Binance is addressing past issues, adhering to its comprehensive compliance plan, and constantly enhancing its processes. Perlman highlighted the company’s ongoing efforts to secure the release of Binance exec Tigran Gambaryan, a key figure in the exchange’s compliance team.

Binance exec Tigran Gambaryan’s team played a crucial role in assisting global law enforcement in seizing over $2.2 billion in assets, including $285 million in cooperation with U.S. agencies such as the FBI, DOJ, and DEA.

However, his situation took a dramatic turn in February 2024 when he was detained by Nigerian authorities during a regulatory visit. Charged with money laundering, tax evasion, and interference with the naira’s value, Gambaryan has faced severe conditions, including inadequate medical care for malaria contracted while in detention.

U.S. Representatives Call for Immediate Release of Tigran Gambaryan

Despite a court order mandating his release in March 2024, Gambaryan was transferred to Kuje Prison, known for its harsh conditions. His health has deteriorated significantly, and he has struggled to receive proper medical treatment. Binance remains steadfast in advocating for his release, emphasizing his innocence and the lack of substantial evidence against him.

On July 10, 2024, U.S. Representatives Rich McCormick and French Hill introduced a resolution calling for Gambaryan’s immediate release. The resolution details his significant contributions to financial crime compliance and the alarming circumstances of his detention. Despite legal irregularities and ongoing advocacy, Gambaryan’s situation remains critical, with continuous efforts from Binance and U.S. officials to secure his freedom.

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.

Recent Posts

Bitcoin Trading Volume Skyrockets to $145 Billion as Retail Investors Return

Bitcoin trading volume has surged to an all-time high of $145 billion in the last…

37 minutes ago

Italy Considers Reducing Proposed Italy Crypto Tax to 28%

Italy considers lowering its proposed Italy crypto tax increase to 28% from an initial 42%,…

4 hours ago

Bitcoin Spot ETF Inflows Reach $818M Amid 5-Day Positive Streak

Bitcoin Spot ETF Inflows Hit $818M as Net Inflow Streak Extends to 5 Days, with…

4 hours ago

Elon Musk Invests $200M in Trump, Treats Government Like X (Twitter)

Elon Musk applies his X (Twitter) management style to politics. His political strategies, including voter…

5 hours ago

PayPal Stablecoin PYUSD Now Available for Cross-Chain Trading via LayerZero

PayPal stablecoin PYUSD can now transfer seamlessly between Ethereum and Solana via LayerZero.

6 hours ago

New Department of Government Efficiency Will Be Led by Musk

President-elect Trump plans to establish the Department of Government Efficiency, led by Elon Musk and…

7 hours ago

This website uses cookies.