*Tigran Gambaryan
By Pathfinder Reporter
Thursday June 6, 2024
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The Federal Government yesterday expressed confidence that it would secure the conviction of Crypto-currency trading platform, Binance and one of its executives currently detained in Nigeria.
It predicated its position on the fact that ‘’due process has been followed…’’ and the quality of evidence gathered against them.
The government, through Information and National Orientation Mohammed Idris, also referred to the fact that Binance Founder Changpeng Zhao and some executives of the firm had been jailed in different countries, including the United States.
The firm and two of its executives– Nadeem Anjarwalla and Tigran Gambaryan—are facing trial for money laundering, terror financing, and tax evasion at a Federal High Court in Abuja.
Before their case was taken to court, Anjarwalla, a British/ Kenyan citizen , escaped from detention in Abuja with a smuggled passport. Gambaryan, an American, who is still in captivity has made appearances in court where pleaded not guilty.
Information Minister Idris said in a statement by his media aide Rabiu Ibrahim, that the next hearing of the case is June 20.
He described Binance as a ‘’rogue online platform’’ that illegally traded in cryptocurrency in Nigeria until early March when its activities were uncovered.
He said: “At all stages, due process has been followed, and prosecutors are confident of their case, based on the facts and evidence gathered. Binance will have every opportunity to defend itself in court against these severe charges of financial crimes against the Federal Republic of Nigeria. ‘’
The minister explained that Binance and Gambaryan had received consular access and all due care, following normal diplomatic protocols and the rule of law.
He added that the court had sufficiently posited that bail was denied Gambaryan because of flight risk after Anjarwalla absconded from detention.
Idris said it was important to prefix ‘’Binance as an entity whose representatives have been variously imprisoned, fined, sanctioned, and banned in recent years in North America, Europe, and Asia.
“Changpeng Zhao, the billionaire co-founder and former CEO of Binance is currently serving a four-month prison sentence in the United States after being found guilty of money laundering, while Binance has openly accepted its role in facilitating terrorism, corruption, sanctions busting, and in aiding and abetting pedophile gangs.
“Law enforcement agencies believe Binance operations in Nigeria are part of a broader international pattern. It will be for the courts here, as in other jurisdictions, to hold the company and its executives accountable,” the minister added.
Binance had a turnover in Nigeria of over $20 billion in 2023 alone, far above the federal budget for Health and Education.
US lawmakers petition Biden
Meanwhile some members of the United States House of Representatives have called on President Joe Biden to help secure release of the Binance executive, Tigran Gambaryan
Sixteen lawmakers reportedly petItioned the US President, urging him to work fast to get Binance executive, Tigran Gambaryan, freed from Nigerian custody alleging that he as a US citizen has been wrongfully detained by a foreign government.
In the petition, the lawmakers wrote, “On behalf of Mr. Gambaryan, his family, and concerned Americans, we, the undersigned, urgently request and strongly encourage the transfer of his case to the Office of the Special Presidential Envoy for Hostage Affairs,” the Congress members wrote in their Tuesday letter, as published by Fox Business correspondent Eleanor Terrett.
The said office co-ordinates U.S. efforts on overseas hostage-related matters. They said Gambaryan qualified as a “U.S. citizen wrongfully detained by a foreign government” and his detention has been “marked by excessive and harsh treatment.”
“Mr. Gambaryan’s health and well-being are in danger, and we fear for his life. Immediate action is essential to ensure his safety and preserve his life.
”We must act swiftly before it is too late,” wrote the group of House lawmakers, including House Foreign Affairs Committee Chair, Rep. Michael T. McCaul, R-Texas.
They reiterated that Gambaryan, Binance’s chief of financial compliance, had been “wrongfully detained” since late February after granting the Nigerian government’s request for discussions regarding the crypto giant’s business in the country.
The lawmakers said “the government of Nigeria took Mr. Gambaryan hostage” and thus needs his government’s help to be freed.
They highlighted his work as a former IRS agent who helped lead some of the country’s “most prolific cyber investigations,” including the seizure of $4.725 billion in illicit funds.
The House members’ letter to the President’s office marks the most high-profile move concerning Gambaryan’s case, and marks a significant development, following his family’s continued appeals to the government for help.
The law firm handling Gambaryan’s case previously wrote in a letter to the Nigerian Federal High Court that their client was “very ill” and required immediate and comprehensive medical attention.
Multiple outlets reported that Gambaryan collapsed during a hearing of the case wherein the compliance officer is accused of involvement in Binance’s violations of Nigerian law.
Justice Emeka Nwite ordered for Gambaryan’s transfer to a hospital, but his family said late last month that he had not been moved to a hospital.
They also revealed that the Binance executive was suspected of having malaria and a severe throat infection.
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