US Politicians Urge Biden to Intervene in Detention of Binance Executive in Nigeria
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Several US Politicians have called on President Joe Biden to intervene in the detention of Figran Gambaryan, Binande’s head of financial crime compliance. Gambaryan has been held in Nigeria for over three months on money laundering and tax evasion charges. A letter submitted to President Biden on June 4 articulated the demand for his release.
US Politicians Demand Action for Wrongful Detention of Binance Executive
The letter, signed by over 12 US politicians and shared on X by journalist Eleanor Terrett, asserts that Gambaryan, who is also a former federal agent, is being wrongfully detained. The politicians have urged the Special Presidential Envoy for Hostage Affairs to take immediate action. They accuse Nigerian authorities of using coercion tactics to extort Binance and express concerns about Gambaryan’s deteriorating health.
Binance Executive’s Detention Under Inhuman Prison Condition
Gambaryan travelled to Nigeria on February 26 at the invitation of the Nigerian government to address Binance’s compliance issues. However, he was detained and is now held in Kuje Prison, notorious for its harsh conditions. There are serious allegations regarding his treatment, including the violation of a court over directing his transfer to a private hospital for malaria treatment. The letter also notes that Gambaryan has been denied the right to freely communicate with his legal team, only being allowed to do so in the presence of Nigerian armed guards.
Another Binance Executive, the Co-Accused, Fled Nigeria
Nadeem Anjarwalla, another Binance executive facing similar change, fled Nigeria in March. Nigerian authorities have labelled the case a matter of national security, demanding the delisting of the naira currency from Binance’s platform and detailed information on all Nigerian users.
Binance’s Bribery Allegations Against Nigeria
Lately, Binance CEO Richard Teng accused unidentified Nigerian officials of demanding a$150 million cryptocurrency bribe to halt the investigations, a claim denied by Nigerian authorities. The Nigerian Information Ministry spokesperson, Rabiu Ibrahim, stated that these claims lack substance and accused Binance of trying to undermine legal proceedings.
Nigeria’s Crypto Investment Landscape
Despite these challenges, Nigeria remains a modestly significant crypto investment location, with around $2.5 million raised from the country since last June. The ongoing detention of Gambaryan highlights the complex interplay between regulatory issues and the burgeoning crypto market in Nigeria.
The appeal from US politicians to President Biden underscores the urgency and seriousness of Tigran Gambaryan’s detention in Nigeria. This case not only raises concerns about legal and human rights but also reflects the broader tensions between regulatory authorities and cryptocurrency platforms. Effective diplomatic intervention is essential to resolve the situation and ensure fair treatment for all parties involved.
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