U.S. Urges Nigeria President To Release Detained Binance Executive

The U.S. government is pressing Nigerian officials to release Tigran Gambaryan, a Binance executive detained in the country for seven months, amid reports of deteriorating health and increased calls for his release.

Secretary of State Antony Blinken and the U.S. ambassador to Nigeria have been privately urging the Nigerian government to free Gambaryan on humanitarian grounds. Efforts have intensified since June, following a visit to Gambaryan by U.S. congressional representatives French Hill (R-Ark.) and Chrissy Houlahan (D-Pa.).

Last week, a video emerged showing Gambaryan, who is reportedly suffering from a herniated disc, malaria, and pneumonia, without access to medical care. Lawyers for Gambaryan, a U.S. citizen and former IRS agent now serving as Binance’s compliance chief, are pushing the State Department to designate him as “wrongfully detained.”

Gambaryan and his colleague Nadeem Anjarwalla were detained in Nigeria in February after traveling to the country for a meeting with officials, who they claim misled them. Initially charged with money laundering and tax evasion, the latter charge was later dropped.

Two State Department officials cited by The New York Times described Gambaryan’s detention as a “significant factor” in the deteriorating relations between the U.S. and Nigeria. U.S. authorities are reportedly in contact with top Nigerian officials, including the president, finance minister, attorney general, and trade minister, to negotiate his release.

Gambaryan appeared in court last week seeking bail to obtain medical care. If granted, he could be released in October when his trial is set to begin. He has denied any wrongdoing.

Nigeria accuses Binance, the world’s largest cryptocurrency exchange, of contributing to the naira’s decline by facilitating $26 billion in illegal cross-border transfers. Binance has since ceased support for the Nigerian currency and also faces tax evasion charges in the country.

Binance CEO Richard Teng has called for Gambaryan’s release, arguing that he is a mid-level employee and should not be held responsible for the company’s actions.

Gambaryan was previously known for his role as a lead investigator in the takedown of the Silk Road darknet market and BTC-e crypto exchange, both linked to money laundering activities.

 

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