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Binance clarifies detained employee’s role as a law enforcement officer, not part of management



Binance has addressed the situation of its employee, Tigran Gambaryan, currently detained in Nigeria, by emphasizing that he is not a member of the company’s management team. Gambaryan, an American, serves in a law enforcement capacity and does not possess decision-making authority, according to the crypto exchange giant’s statement provided to NewsNow.

Back in February, Gambaryan and his colleague Nadeem Anjarwalla from Binance Holdings Limited were apprehended in Nigeria under suspicion of involvement in money laundering activities. Subsequently, both the company and the two employees were charged with money laundering amounting to $35,400,000 at the Federal High Court in Abuja.

While Gambaryan remains in custody, Anjarwalla managed to escape and leave the country, with Binance yet to comment on his current whereabouts despite inquiries raised by NewsNow.

In a segment of its statement, Binance emphasized Gambaryan’s role as a dedicated law enforcement professional, separate from its management structure. The company expressed its desire for Gambaryan not to be held accountable during ongoing discussions with Nigerian government authorities.

Gambaryan was hired by Binance in 2021 to assist in addressing past compliance issues. As the head of Binance’s Financial Crime Compliance team, he played a pivotal role in setting new industry standards and aiding law enforcement in asset freezing and seizure activities.

Throughout 2022 and 2023, Gambaryan’s team collaborated with global agencies like the FBI, DOJ, and DEA in confiscating over $2.2 billion worth of assets. In addition, training sessions were conducted for Nigerian officials concerning exchanges within the digital asset ecosystem.

The Economic and Financial Crimes Commission is set to arraign Binance Holdings Limited, Gambaryan, and Anjarwalla on money laundering charges. Following Anjarwalla’s escape, the EFCC has initiated extradition efforts involving INTERPOL, the FBI, UK and Kenyan governments.

Recent reports also indicated that Binance was requested by the EFCC to provide user data and transaction histories in Nigeria, with negotiations ongoing between the company and the authorities.