US Politicians Call on President Biden to Intervene in the Detention of Binance Executive in Nigeria
A group of US politicians has called upon President Joe Biden to step in and address the unjust imprisonment of Figran Gambaryan, the head of financial crime compliance at Binande. Gambaryan has been held in Nigeria for more than three months on charges of money laundering and tax evasion. The politicians submitted a letter to President Biden on June 4, demanding his release.
US Politicians Rally for Justice in Detention of Binance Executive
The letter, which was signed by over 12 US politicians and shared by journalist Eleanor Terrett on X, asserts that Gambaryan, a former federal agent, is being unlawfully detained. The politicians have called upon the Special Presidential Envoy for Hostage Affairs to take immediate action. They accuse Nigerian authorities of resorting to coercion tactics to extort Binance and express concerns about Gambaryan’s declining health.
Binance Executive Held in Inhumane Prison Conditions
Gambaryan traveled to Nigeria on February 26 at the invitation of the Nigerian government to address compliance issues at Binance. However, he was detained and is currently being held at Kuje Prison, notorious for its harsh conditions. Serious allegations have been made regarding his treatment, including a court order being violated by refusing to transfer him to a private hospital for malaria treatment. The letter also highlights that Gambaryan has been denied the right to freely communicate with his legal team, only being allowed to do so in the presence of Nigerian armed guards.
Co-Accused Binance Executive Flees Nigeria
Nadeem Anjarwalla, another Binance executive facing similar charges, fled Nigeria in March. Nigerian authorities have classified the case as a matter of national security, demanding that the naira currency be delisted from Binance’s platform and requesting detailed information about all Nigerian users.
Binance Accuses Nigeria of Bribery
Binance CEO Richard Teng recently accused unidentified Nigerian officials of demanding a $150 million cryptocurrency bribe to halt the investigations, a claim that Nigerian authorities have denied. Rabiu Ibrahim, spokesperson for the Nigerian Information Ministry, stated that these allegations lack substance and accused Binance of attempting to undermine the legal proceedings.
Nigeria’s Crypto Investment Landscape
Despite these challenges, Nigeria remains a moderately significant location for crypto investments, with approximately $2.5 million raised from the country since last June. The ongoing detention of Gambaryan highlights the complex relationship between regulatory issues and the growing crypto market in Nigeria.
The appeal from US politicians to President Biden underscores the urgency and gravity of Tigran Gambaryan’s detention in Nigeria. This case not only raises concerns about legal and human rights but also reflects the broader tensions between regulatory authorities and cryptocurrency platforms. Effective diplomatic intervention is crucial in resolving the situation and ensuring fair treatment for all parties involved.
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Crypto Regulations