Binance Exec Faces Charges in Nigerian Court
Tigran Gambaryan, Binance's head of financial crime compliance, appeared at a Nigerian court hearing over money laundering and tax evasion accusations.
Nigerian prosecutors seek to try Gambaryan, Nadeem Anjarwalla, and Binance for operating without a license, unlawful forex dealings, tax evasion, and concealing $35.4 million in illegal proceeds.
While only Gambaryan attended court, Anjarwalla reportedly fled custody.
Anjarwalla’s spokesperson stated he left “unlawful custody” and is unaware of any charges. Gambaryan faces formal arraignment for money laundering and tax evasion on April 8th and 19th, respectively.
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Nigeria’s inflation crisis has driven citizens to cryptocurrencies, with Bitcoin up 800% against the naira in the past year.
Authorities accuse Binance of exacerbating currency issues and demand nearly $10 billion in fines for alleged fiat exchange rate manipulation. Following the charges, Binance halted naira support on its platforms.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
