US lawmakers have accused Nigeria of wrongfully detaining an American staff member of cryptocurrency exchange Binance in an attempt to extort money. The detained individual, Tigran Gambaryan, 40, and a company colleague were arrested by Nigerian security authorities in February while on an official visit to the country. Gambaryan is facing charges of tax evasion, money laundering, and engaging in unlicensed financial activities, with his trial commencing in May.
The US House Foreign Affairs Committee, comprising 16 members, expressed concerns about Gambaryan's health and well-being, emphasizing that the charges against him are baseless and constitute a coercion tactic by the Nigerian government to extort his employer, Binance.
The lawmakers urged President Joe Biden and the State Department to quickly intervene in the case to save Gambaryan's life.
In response to the accusations, Nigeria's government stated that it is following due process, with prosecutors confident of their case based on the facts and evidence gathered. The Information Minister, Mohammed Idris, affirmed that Binance will have every opportunity to defend itself in court against the severe charges of financial crimes.
Gambaryan's representatives and Binance have demanded his release, asserting that he has no decision-making power in the company and should not be held to answer to any alleged company offenses. Nigerian authorities have renewed their crackdown on crypto, arguing that trades on platforms like Binance have contributed to the weakening of the local currency and evaded taxes on earnings from its activities.
The detention of Gambaryan and the subsequent trial in Nigeria have raised concerns and drawn attention from US lawmakers, highlighting the complexities and implications of the case on international relations and the cryptocurrency industry.
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