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Tag: Tigran Gambaryan

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.

May 24, 2024

Binance Nigeria Case: Binance Executive Tigran Gambaryan Collapses in Court During Trial

On May 23, 2024, the trial of Binance executive Tigran Gambaryan took an unexpected turn at the Federal High Court in Abuja when Gambaryan collapsed during the proceedings, online news platform Punch reported. The dramatic incident occurred shortly after the court registrar called for the continuation of the trial. As the trial commenced, Gambaryan, who typically sat at the back, did not step forward to the dock.

May 18, 2024

Update on Binance Nigeria Case: Executive Denied Bail Over Money Laundering Charges Over Flight Risk!

Working for the crypto exchange Binance may pull you into severe troubles, as shown in the case in Nigeria. Recently, a Nigerian court denied bail to Tigran Gambaryan, the Binance compliance officer facing charges of tax evasion and money laundering. The Federal High Court in Abuja presided over by Judge Emeka Nwite, ruled that Gambaryan, a former IRS special agent, is likely to abscond if released on bail.

May 11, 2024

FinTelegram Update: Binance Executive Seeks US Government Intervention From Nigerian Detention

Tigran Gambaryan, a senior executive at crypto giant Binance, has issued a public plea for assistance from the United States government through a video released from his detention in Nigeria. Gambaryan, the head of financial crime compliance at Binance, confirmed his month-long detention in a video that has gained considerable traction online. The video evidently was recorded in early March 2024 and found its way to X just recently.

Compliance Report: Sergey Mendeleev, Garantex, and Exved – The Rising Role of Crypto in Russia’s Sanctions Evasion Strategy

Sergey Mendeleev, a prominent figure in Russia's cryptocurrency scene, has played a central role in the establishment and operation of two key platforms—Garantex and Exved. These platforms have been instrumental in facilitating cross-border payments and crypto transactions, potentially serving as important tools for Russia’s sanctions evasion strategy. Mendeleev's growing influence in this space, coupled with Russia's evolving regulatory framework, positions him as a key player in Russia.

Russia’s New Crypto Strategy for Sanctions Evasion

Russia’s new crypto laws, allowing mining and international payments in digital currencies, are part of a broader strategy to evade Western sanctions and reduce dependence on the U.S. dollar. This move, led by the Central Bank of Russia (CBR), opens up new compliance risks for global financial institutions dealing with Russian entities. The new laws are set to take effect in September for cross-border payments and in November for crypto mining.

Secretive Cyprus Funds Used to Obscure Megayachts and Real Estate Linked to Sanctioned Russian Banker

A recent OCCRP investigation revealed that Cyprus-registered RAIFs were used to hide megayachts and real estate linked to sanctioned Russian banker Andrei Kostin. These secretive funds, managed by Inveqo, allowed clients to avoid disclosing their ownership, raising concerns about the effectiveness of sanctions and regulatory enforcement. The case highlights the challenges of ensuring transparency and preventing financial crime in the global investment landscape.

First-Ever Crypto Seizure in Scotland Under New UK Law

Crypto has undoubtedly become mainstream, particularly in the cybercrime sphere. In a first for Scottish law enforcement, £110,000 in cryptocurrency has been confiscated from John Ross Rennie following a violent robbery. Under new UK rules, police can now seize crypto assets without needing to make an arrest, highlighting a growing focus on tackling digital crime as incidents involving cryptocurrency continue to rise.

Former Lebanon Central Bank Governor Riad Salameh Charged with Financial Crimes

It was a long-expected move. The powerful former Lebanon Central Bank Governor Riad Salameh has been arrested and charged with embezzling $42 million in public funds, part of a broader $110 million fraud case. His detention comes amid ongoing domestic and international investigations into financial misconduct during his controversial three-decade tenure. In 2022, the European Union Agency for Criminal Justice Cooperation (Eurojust) froze assets worth €120 million tied to Salame.