Binance CEO Richard Teng is making a strong plea for the release of Tigran Gambaryan, a top executive of the crypto exchange who is currently imprisoned in Nigeria on charges of money laundering. In a recent blog post on Binance’s website, Teng calls on Nigerian authorities to free Gambaryan, who has been detained for over 70 days.
Gambaryan was apprehended in February after visiting Nigeria for regulatory discussions. Teng assures that once Gambaryan is released, Binance, the largest cryptocurrency exchange in the world, will collaborate with Nigerian authorities to address any alleged outstanding tax liabilities.
Teng states, “Allow Tigran to reunite with his family, and then Binance will follow the same procedures that we have willingly undertaken with Nigeria’s law enforcement over 600 times in the past. We are committed to safeguarding innocent users, and we have no tolerance for malicious actors on our platform. We will relentlessly work with both public and private partners to eliminate them. Additionally, we will continue to engage with Nigeria’s Federal Inland Revenue Service (FIRS) to resolve any potential historical tax obligations.”
Teng expresses his bewilderment as to why the Nigerian government officials are not willing to consider this solution. He emphasizes that the Nigerian government holds immense power in determining the fate of Binance and the overall cryptocurrency industry within its borders.
Ultimately, Binance desires a future where it can collaborate with the Nigerian government to contribute to the development of a robust economy for the Nigerian people. However, Teng stresses that this crisis must be resolved swiftly, and Gambaryan must be allowed to return home for progress to be made.
In March, Nigeria’s Economic and Financial Crimes Commission (EFCC) brought multiple charges against Binance, Gambaryan, and his colleague Nadeem Anjarwalla, who serves as the regional manager for Binance’s operations in Africa. These charges include operating without the necessary license, engaging in unlawful foreign exchange rate negotiations, tax evasion, and concealing the origin of illegal proceeds and revenue amounting to $35.4 million.
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