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Tag: Tigran Gambaryan

October 24, 2024

Nigeria Drops Money Laundering Charges Against Binance Executive Amid Health Concerns

Nigeria’s anti-corruption agency has finally dropped its $35.4 million money laundering case against Tigran Gambaryan, a top Binance executive, citing his urgent need for medical treatment abroad. Gambaryan, who was in charge of financial crime compliance at Binance, had been detained in Nigeria since April. Binance still faces tax evasion charges as part of Nigeria’s broader crackdown on crypto firms.

October 20, 2024

Bring Him Home: US Attorneys General Demand Hostage Status for Detained Binance Exec Tigran Gambaryan

18 U.S. attorneys general have called on President Biden to designate Binance executive Tigran Gambaryan as a hostage. Held without formal charges in Nigeria, Gambaryan’s health has deteriorated significantly, raising humanitarian concerns. His arrest, seen as politically motivated, comes just months after Binance’s $4.2 billion money laundering settlement with U.S. authorities.

October 12, 2024

Binance Chief Financial Crime Compliance Officer Denied Bail in Nigerian Case!

Think twice before starting to work for the world's larger crypto exchange. As Binance’s financial crime compliance officer faces money laundering charges in Nigeria, questions mount over the company’s compliance safeguards and the risks involved in its global operations. The denial of bail for Tigran Gambaryan and the ongoing legal battle could have far-reaching implications for the company’s future.

Court Cases

September 4, 2024

Binance Nigeria Case: Judge Orders Wheelchair for Detained Binance Exec Tigran Gambaryan!

The Nigerian Justice Emeka Nwite has ordered the officials of the Kuje correctional facility to provide Tigran Gambaryan, the detained executive of Binance Holdings Limited, with a wheelchair. This decision came after Gambaryan, who appeared in court walking with crutches, expressed that his health had severely deteriorated due to inadequate medical care at the facility.

September 3, 2024

Binance Executive Tigran Gambaryan Seeks Bail and Medical Care Amid Nigerian Money Laundering Trial

Tigran Gambaryan, Head of Financial Crime Compliance at Binance, worked as a Special Agent for the Internal Revenue Service (IRS) in the U.S. for approximately ten years before joining Binance. In February 2024, Gambaryan and Nadeem Anjarwalla, another Binance executive, were arrested in Nigeria on charges of money laundering and tax evasion. He has been detained in a Nigerian prison since then, facing health issues and legal challenges.

August 29, 2024

Binance Nigeria Case: Binance CEO Refutes Nigerian Allegations and Calls for Release of Tigran Gambaryan!

Binance CEO Richard Teng has denied allegations from the Nigerian government regarding money laundering and terrorism financing on the platform, calling for the release of detained employee Tigran Gambaryan. The crypto exchange and two of its executives, Gambaryan and Nadeem Anjarwalla, are accused of laundering over $35 million. There are claims that Nigerian officials demanded a bribe of $150 million from Binance.

August 9, 2024

Binance Boasts $73M Fund Recovery, But Can It Escape Its Growing Legal Quagmire?

Binance, the world's largest and certainly most controversial crypto exchange, wants you to believe it's the hero of the crypto world, announcing it has recovered or frozen over $73 million in stolen funds so far in 2023. But make no mistake: while Binance paints itself as a protector of user assets, it’s hard to ignore the shadow of scandal and legal trouble hanging over its operations. Its co-founder and former CEO, Changpeng Zhao, currently serves prison time.

July 14, 2024

Binance Tax Evasion Verdict Scheduled for October

The criminal proceedings in Nigeria against Binance and its executives have kept the crypto scene busy for months. The charges of financial offenses could result in prison sentences and fines. A Nigerian court has set October 11 as the date for the verdict in the tax evasion trial against crypto exchange. The company faces four charges, including failure to register with Nigeria’s Federal Inland Revenue Service (FIRS).

July 4, 2024

The ‘State-Sponsored Hostage Taking’ – Binance Exec Struggles with Health as Nigerian Money Laundering Trial Resumes

In the ongoing money laundering trial at Nigeria’s Federal High Court in Abuja, Binance’s compliance executive Tigran Gambaryan continues to battle severe health issues, complicating the proceedings. The trial, marked by interruptions and delays, saw Gambaryan’s defense team rigorously cross-examining government officials this week, reported Osato Avan-Nomayo out of the courtroom.

June 16, 2024

FG Drops Tax Charges Against Binance Executives: A Legal Update

In the Binance Nigeria Case, the Federal High Court in Abuja has cleared Binance executives Tigran Gambaryan and Nadeem Anjarwalla of tax evasion charges filed by the Federal Inland Revenue Service (FIRS). The court's decision came after the FIRS submitted amended charges, effectively dropping the tax allegations against Gambaryan and Anjarwalla, who has reportedly fled to Kenya.

June 6, 2024

US Lawmakers Urge Immediate Action for Binance Executive Detained in Nigeria

US lawmakers are calling for urgent intervention to secure the release of Tigran Gambaryan, a Binance executive currently detained in Nigeria. Nigeria’s Minister of Information and National Orientation, Mohammed Idris, has stated that the trial of Binance and Gambaryan, who is accused of illegal crypto trading in Nigeria, is proceeding according to Nigeria's laws. The statement followed a letter sent to President Joe Biden, urging the US hostage affairs unit to facilitate Gambaryan's release.

May 29, 2024

Crypto Compliance: Binance France Forced to Replace Sentenced Founder ChangPeng Zhao to Maintain European Presence!

According to a report of DLNews, Binance France has replaced co-founder and former Binance Group CEO Changpeng Zhao (CZ) with two new shareholders, a strategic move aimed at preserving its operational status in the EU's second-largest economy. This decision follows CZ's guilty plea to violating US banking laws last November. He was sentenced to 4 months in prison for his violations and had to pay around $150 million to U.S. authorities, including regulator CFTC.

Cash Cow Crypto: U.S. CFTC Enforcement Sets Records in FY 2024 with $17.1 Billion in Monetary Relief!

The U.S. Commodity Futures Trading Commission (CFTC) achieved a landmark year in FY 2024, securing over $17.1 billion in monetary relief, including $2.6 billion in civil penalties and $14.5 billion in restitution. The agency’s groundbreaking actions spanned digital asset (crypto) markets, voluntary carbon credits, and major compliance cases, highlighting its leadership in safeguarding market integrity.

U.S. DOJ’s Whistleblower Pilot Program: 250+ Tips in Just Months!

Whistleblowers are the only effective way to fight financial crime. The U.S. DOJ whistleblower pilot program has already proven effective, generating over 250 tips of potential misconduct since its launch in August, according to Principal Associate Deputy Attorney General Marshall Miller. According to a Reuters report, the initiative targets corporate malfeasance and encourages internal self-disclosure by companies.

Online Gambling: Lokinvestigation in Curaçao, its Maltese Connections, and How to Shut Down!

For many years, the far-far-away Curacao was the regulatory mecca of global online gambling. But that is over. The Lokinvestigation, spearheaded by opposition politician and forensic investigator Dr. Luigi Faneyte, reveals systemic failures and alleged corruption in Curaçao’s online gambling sector. With ties to Maltese investors and global financial networks, the report demands transparency but also carries political implications.

KTM’s Collapse: How Pierer and Blazicek Possibly Misled Investors and Profited Amid a €2.9 Billion Crisis!

The recent insolvency filing by KTM AG, Europe's largest motorcycle manufacturer, has unveiled significant managerial failures under CEO Stefan Pierer and Chairman of the Supervisory Board Josef Blasicek of Pierer Mobility AG. Despite clear indicators of financial distress, the company continued to distribute substantial dividends, misleading investors about its fiscal health. Here is an investor update on the KTM case.

Investor Briefing

Investor Briefing: Why Elon Musk’s SpaceX is valued at $350 Billion!

SpaceX, Elon Musk's private aerospace company, is reportedly in discussions to sell insider shares at a valuation of approximately $350 billion. This would be double what the company was reportedly selling shares at one year ago. In December 2023, Bloomberg reported SpaceX shares were being sold at a $175 billion valuation. Musk's closeness to Trump is apparently paying off.