Binance executive Tigran Gambaryan, reportedly detained in Nigeria since February, faces an extended period of custody as he awaits a bail hearing scheduled for May 17. Gambaryan will remain in Nigeria's Kuje Prison until the upcoming hearing, according to reports from local news outlets on April 23. His detention stems from allegations of Binance's involvement in manipulating Nigeria's fiat currency, the naira. Gambaryan, along with another Binance executive, Nadeem Anjarwalla, traveled to Nigeria in February to address these accusations, resulting in their detainment by Nigerian authorities.
Initially set for a bail hearing on April 22, Gambaryan's case was postponed until May 17, leaving him in custody pending the judge's decision. He faces charges of tax evasion and money laundering, brought by the Nigeria Economic and Financial Crimes Commission. Gambaryan has maintained his innocence and is set to stand trial on May 2, where these charges will be addressed.
Anjarwalla, Gambaryan's colleague, reportedly escaped custody in March and used his Kenyan passport to leave Nigeria. However, recent reports suggest that he has been apprehended by Kenyan authorities, potentially facing extradition to Nigeria to address criminal charges. These developments have drawn criticism, with many questioning the validity of the accusations leveled against the Binance executives.
In a proactive measure to seek support, Tigran Gambaryan's wife, Yuki Gambarian, launched a petition addressed to various governmental bodies, including the U.S. State Department and Nigerian authorities. The petition urges for Gambaryan's return to the United States and has garnered nearly 4,000 signatures as of April 23. Meanwhile, in a separate legal case, former Binance CEO Changpeng Zhao awaits sentencing on April 30 after pleading guilty to charges related to anti-money laundering practices during his tenure at the exchange, facing a potential prison sentence of up to 10 years.
