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REGULATION | U.S. Lawmakers Demand Release of Binance Official as Nigeria Announces Commencement of Tax Evasion Trial

Local sources state that two US Congressmen have asked the US House of Representatives Committee on Foreign Affairs to release Tigran Gambaryan, the Head of Financial Crime Compliance at Binance, in a resolution they presented.

The politicians, Reps. Rich McCormick of Georgia and French Hill of Arizona, contend that Gambaryan is being held as a hostage in Nigeria and that the United States government need to take this into consideration. Referring to Gambaryan’s imprisonment as “a grave injustice and a clear violation of his rights,” McCormick pleaded with the Nigerian government to free him and requested the United States government to “take all necessary steps to ensure the release of one of our citizens who has been wrongfully detained abroad.”

The Economic and Financial Crimes Commission (EFCC) has charged Gambaryan with money laundering, which has put him in detention. The Federal Inland Revenue Service (FIRS) of Nigeria retracted the tax evasion allegations against him and his colleague Nadeem Anjarwalla, who left the nation in March 2024, earlier in June 2024.

Representative Hill stated that Gambaryan’s health is “deteriorating” while he is being kept in a Nigerian prison, and McCormick requested the Nigerian government to give Gambaryan “the necessary medical care.” According to reports, Gambaryan passed out at a court hearing in May 2024. He was then given a malaria prescription. In addition, his family reports that he has been “suffering immensely” while being held in Kuje jail, citing symptoms like back discomfort, double pneumonia, and malaria diagnoses.

Gambaryan’s wife responded to the representatives’ resolution by joining the calls for her husband’s release.

Mrs. Gambaryan stated, “He needs to be freed right now. I just want him home so he can get the proper medical care he so desperately needs and so that he can heal.”

However, Nigerian officials have denied the allegations, asserting that he is doing “fine” in custody and has “no serious health condition.” In the meantime, a Federal High Court in Nigeria announced that it will start Binance’s tax evasion trial on October 11, 2024. This comes after the Federal Inland Revenue Service (FIRS) submitted a new application in which Binance is named as the only defendant in the case.

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