Tigran Gambaryan, a Binance executive, is the head of financial crime compliance at Binance. He was arrested during a business trip to Nigeria.He has been in the custody of the Nigerian government and due to his failing health conditions has been granted freedom, he was arrested in February, in line with charges of laundering over $30 million, which he and Binance team denied having a knowledge of.The Nigerian government blamed Binance for economic turmoil, via it’s Peer-to-peer arm, accusing it of rate-fixing and speculation.Concerns about money laundering and terrorism financing led to a crackdown on crypto firms.
A development that had led to major cryptocurrency exchanges exempting Nigeria from P2P transactions and some thier exchanges totally.Gambaryan’s family advocated for his freedom owing to his health concerns, denied bail twice, but the EFCC in thier magnanimity has dropped the charges so Tigran can seek medical treatment abroad.Gambaryan had worsening back problems while detained at Kuje Correctional Centre, it’s imperative to note that the tax evasion charges against Binance will still be pursued. Binance being a globally recognized exchange denied the allegations against Gambaryan and itself.
