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.
Mohammed Idris noted that law enforcement agencies believe Binance‘s operations in Nigeria are part of a broader international pattern, emphasizing that Nigerian courts, like those in other jurisdictions, will hold the company and its executives accountable.
This argument has a solid foundation in the $4.3 billion settlement between Binance and the US authorities in November 2023. The US authorities also found that Binance had violated US financial laws and was involved in money laundering. Co-founder Changpeng Zhao pleaded guilty, had to resign as CEO, and was recently sentenced to four months in prison, in addition to fines of around €150 million.
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The minister’s statement followed a letter sent to President Joe Biden by 12 US politicians, urging the US hostage affairs unit to facilitate Gambaryan’s release. The letter highlighted that Gambaryan, detained for over three months, has been subjected to “excessive and harsh treatment” and denied adequate healthcare in prison.
On Tuesday, US lawmakers, including Chairman of the House Foreign Affairs Committee Michael McCaul (R-TX) and 15 other Members of Congress, sent another letter to President Biden, Secretary of State Antony Blinken, and Special Presidential Envoy for Hostage Affairs Roger Carstens. They requested immediate action, treating Gambaryan’s detention as a hostage situation. The letter expressed concerns for Gambaryan’s health and safety, urging swift intervention to prevent further harm.
Tigran Gambaryan, Binance’s Head of Financial Crime Compliance, has been charged with money laundering and tax evasion, facing a $35 million indictment in Nigeria. On May 17, the Federal High Court of Nigeria denied his bail, citing him as a flight risk. His trial has been marked by significant health concerns and legal ambiguities.
During a court hearing on May 22, Gambaryan was notably absent, with neither the court, prosecutors, nor defense team aware of his condition. When he appeared the following day, he was reportedly in poor health, collapsing in the courtroom. Despite a judge’s order for Gambaryan to receive treatment at a private hospital, compliance with this order has been incomplete, as noted by US lawmakers.
Gambaryan’s detention, alongside Nadeem Anjarwalla, Binance’s Africa Regional Manager, began following their arrival in Abuja on February 26. They were accused of profiting from illegal transactions in Nigeria, leading to criminal charges on February 28. Anjarwalla subsequently escaped custody on March 22.
The case has drawn significant international attention, with US lawmakers urging immediate action to address the humanitarian concerns surrounding Gambaryan’s detention. The outcome of this situation remains uncertain as legal and diplomatic efforts continue.
