Tigran Gambaryan, a Binance executive who has been held in custody in Nigeria since February, will reportedly remain incarcerated until a bail hearing on May 17, according to reports from local news outlets on April 23. Gambaryan, along with fellow Binance executive Nadeem Anjarwalla, had traveled to Nigeria in February to address allegations of currency manipulation involving the country’s fiat currency, the naira. Following the announcement by the crypto exchange that it would halt all naira transactions, both executives were detained by Nigerian authorities. Gambaryan was initially scheduled to appear in court on April 19, with the question of bail to be addressed on April 22. He has pleaded not guilty to charges of tax evasion and money laundering brought by Nigeria’s Economic and Financial Crimes Commission, and his trial is set for May 2.
In a separate development, Anjarwalla reportedly managed to escape Nigerian custody in March using his Kenyan passport, as he holds dual British and Kenyan citizenship. However, recent reports on April 22 suggested that he has been arrested by Kenyan police and may be extradited to Nigeria to face criminal charges.
The government’s charges against Gambaryan have faced criticism for lacking merit, as Binance has stated that he had no decision-making authority within the crypto firm. On March 30, Gambaryan’s wife, Yuki Gambaryan, launched a petition urging the U.S. State Department, Nigeria’s Economic and Financial Crimes Commission, the Nigerian government, and U.S. President Joe Biden to facilitate his return to the United States. As of April 23, the petition had garnered 3,960 signatures.
Meanwhile, in a separate legal case in the United States, former Binance CEO Changpeng Zhao is expected to be sentenced on April 30 after pleading guilty to failing to maintain an Anti-Money Laundering program during his tenure at the exchange. He faces a potential prison sentence of up to 10 years.
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