CEO of Binance Richard Teng has said that the company will use all available legal and political avenues to secure the release of one of its top executives, Tigran Gambaryan, from detention. Gambaryan is accused of money laundering and tax evasion in Nigeria.
Speaking on the fringes of the Token2049 conference on Thursday in Singapore, Teng gave delegates the reassurance that Binance’s internal task team is working nonstop to achieve the release of Gambaryan, who has been detained in Nigeria for seven months.
Teng stated, “We have an internal task force that is working around the clock, examining various options, from legal to political.”
He clarified that despite the company’s best efforts, the Nigerian authorities had refused to free the imprisoned executive so that medical attention could be given to him.
Teng stated, “We have made numerous appeals to the Nigerian government to free Tigran so that he can return home and receive the necessary medical care.” We don’t need to keep our workers on hand. It’s unfair and unjust to hold him.
Teng emphasized more the toll that Binance and Gambaryan’s family have suffered as a result of their arrest. He said, “It is upsetting for all of us.” in particular for the families. This is a primary concern for us at Binance. An internal task team is working nonstop, exploring all options, from legal to political.
The CEO of Binance also voiced optimism that the US would declare Gambaryan to be a citizen who has been jailed illegally, which would hasten his release and return to his home country. He mentioned that, despite their best efforts, Binance has not been succeeded in getting Gambaryan released on humanitarian grounds.
He referenced sources that suggest Gambaryan’s health has declined dramatically while he has been detained; he has reportedly had pneumonia twice and has a chronic back condition that has been part of his medical history for years.
When he passed out in court during one of his appearances, worries for his safety increased.
On the other hand, the Nigerian government has indicated that his health problems are being overstated.
Gambaryan, who oversees Financial Crime Compliance for Binance, was first invited to Nigeria in February 2024 to discuss compliance-related matters there.
But things took a sharp turn during the meeting, and he and another Binance executive, Nardeem Anjarwalla, were taken into custody.
Anjarwalla was able to get out of custody by using a different passport, while Gambaryan stayed under arrest and was finally sent to Kuje prison in Abuja.
Since then, Gambaryan has appeared in court several times, but he is still being held.
Being the biggest cryptocurrency exchange in the world, Binance has encountered several regulatory obstacles worldwide, including those from countries like Brazil, India, Nigeria, and even the US.
