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Binance CEO Advocates for the Release of Detained Executive in Nigeria
Binance CEO Richard Teng has made a fervent plea for the immediate release of Tigran Gambaryan, a high-ranking executive of the exchange who is currently detained in Nigeria. Teng decried Gambaryan’s detention as unjust and warned of the dangerous precedent it sets for international business practices.
Background
Gambaryan, a US citizen overseeing Binance’s financial crime compliance division, was apprehended alongside Nadeem Anjarwalla, the exchange’s Africa regional manager, upon their arrival in Abuja, Nigeria’s capital, on February 26. Anjarwalla managed to escape custody on March 22, leaving Gambaryan in a precarious situation.
Teng emphasized that Gambaryan’s trip to Nigeria was purely for the purpose of providing expertise on financial crime issues and engaging in policy discussions, rather than making pivotal decisions or engaging in negotiations on behalf of Binance.
Unjust Detention
Teng condemned Nigeria’s detainment of Gambaryan as a move aimed at exerting control over Binance. He asserted that detaining an innocent employee, who is neither a decision-maker nor a negotiator, and subjecting them to a perilous prison environment is a flagrant abuse of power.
According to Teng, Nigeria’s actions send a chilling message to all companies that could potentially face similar unwarranted treatment at the hands of overly authoritarian governments. The CEO urged Nigerian authorities to release Gambaryan and allow him to reunite with his family.
Bribery Allegations
In a startling revelation, Teng disclosed that Binance had been approached by individuals claiming to represent Nigeria’s House Committee on Financial Crimes (HCFC) and demanding a substantial crypto payment under the guise of a secret settlement. Teng did not divulge the exact amount requested but emphasized Binance’s refusal to comply with what they deemed an illegitimate demand.
The New York Times reported that a Nigerian government affiliate solicited a bribe of approximately $150 million in crypto from Gambaryan, a proposition that Binance promptly rejected. Teng reiterated the exchange’s commitment to operating with integrity and transparency, refusing to engage in illicit transactions or succumb to corrupt practices.
In conclusion, Teng implored the Nigerian government to release Gambaryan and reiterated Binance’s willingness to collaborate with law enforcement agencies in a lawful and mutually beneficial manner, as they have done on numerous occasions in the past.
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