Binance execute pleads not guilty to money laundering in Nigeria

By bne IntelliNews April 9, 2024

Tigran Gambaryan, an executive from the cryptocurrency giant Binance, has pled not guilty to money laundering charges in a Nigerian court. His next hearing is set for April 19.

Gambaryan, alongside his colleague Nadeem Anjarwalla, is accused of being behind Nigeria’s recent economic instability. Gambaryan – a US citizen – has denied all charges of money laundering filed against him. Anjarwalla, a British-Kenyan dual national, recently escaped custody.

Gambaryan has now been sent to  Kuje Correctional Centre in Abuja.

Binance has come into Nigeria’s crosshairs during its crackdown on cryptocurrencies. Nigeria's Economic and Financial Crimes Commission (EFCC) alleges that Binance, Gambaryan, and Anjarwalla were involved in laundering millions of dollars. Finance also faces accusations of tax evasion from the Federal Inland Revenue Service (FIRS). 

Nigeria is currently seeking an Interpol arrest warrant for Anjarwalla.

Binance, meanwhile, has denounced the charges, stating that Gambaryan did not have decision-making power within the company.

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