Cryptocurrency exchange giant Binance has issued a statement clarifying the status of one of its employees, Tigran Gambaryan, amidst allegations of money laundering in Nigeria. The company emphasized that Gambaryan, who is currently detained in Nigeria, is not a part of its management team.
The clarification from Binance comes after Gambaryan, along with his colleague Nadeem Anjarwalla, was arrested in Nigeria in February on suspicion of involvement in money laundering activities. While Gambaryan remains in custody, Anjarwalla managed to escape from the country.
Binance stated that Gambaryan, an American citizen, serves solely as a law enforcement officer and does not have decision-making authority within the company.
Gambaryan was hired by Binance in 2021 to assist in addressing compliance issues. As the head of Binance’s Financial Crime Compliance team, he has played a crucial role in advocating for policies and compliance capabilities aimed at setting industry standards.
The statement further highlighted Gambaryan’s contributions in assisting global law enforcement agencies, including freezing and seizing assets worth over $2.2 billion, with significant cooperation with U.S. agencies such as the FBI, DOJ, and DEA.
Despite the ongoing legal proceedings, Binance expressed confidence in Nigeria’s future prospects. Gambaryan and his team have conducted training sessions for Nigerian law enforcement officials on the role of cryptocurrency exchanges in the digital asset ecosystem.
However, amidst the legal challenges, the Economic and Financial Crimes Commission (EFCC) is preparing to arraign Binance Holdings Limited, Gambaryan, and Anjarwalla on money laundering charges. The EFCC has intensified efforts to apprehend Anjarwalla, collaborating with international law enforcement agencies, including INTERPOL and the FBI, to secure his arrest and extradition.
The developments come at a time of increased scrutiny of Binance, following the arrest of its executives in Nigeria and subsequent demands by the EFCC for user data. Binance is currently engaged in negotiations with Nigerian authorities regarding these requests.
As the situation continues to unfold, Binance reaffirms its commitment to compliance and transparency in the cryptocurrency industry, while navigating the legal challenges arising from the ongoing investigations.
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