LIVE
Nigerian Court Denies Bail for Binance Executive
🇳🇬 On May 17, the Federal High Court in Abuja denied a bail request for Tigran Gambaryan, Vice President of Global Intelligence and Investigations at Binance, as reported by local media.
⚖️ The judge, after a thorough review of the application, determined that the accused was unlikely to appear in court if released on bail.
👀 Earlier, Binance CEO #RichardTeng appealed to Nigerian authorities for Gambaryan's release, describing the arrest as a tactic to pressure the exchange and alleging an extortion attempt by "unknown individuals." The government refuted any bribery allegations.
Nadeem Anjarwalla, Binance's director for West and East Africa, who was detained alongside Gambaryan, managed to escape custody to Kenya. However, #Nigerian authorities tracked him down and are arranging his extradition.
🧐 Gambaryan and Anjarwalla face charges of tax evasion and using the #exchange to launder nearly $21.6 billion.
