American Binance exec is 'held hostage' in Nigeria amid claims company received ... trends now
An American Binance executive is being 'held hostage' in Nigeria amid claims his company was asked for a $150 million crypto bribe.
Compliance officer Tigran Gambaryan has been detained in the country for more than 70 days charged with tax evasion and money laundering.
His colleague Nadeem Anjarwalla was charged alongside him and the company, but managed to escape using a smuggled passport before he could be incarcerated.
In a chilling final video before his phone was confiscated, Gambaryan is seen begging for help from the US government and pleading with Nigerian officials to let him go.
Gambaryan is a former federal financial regulatory agent who is currently being held in Kuje prison.
American Binance executive Tigran Gambaryan (pictured) is being 'held hostage' in Nigeria amid claims his company was asked for a $150 million crypto bribe to release him
Gambaryan has been detained in the country for more than 70 days charged with tax evasion and money laundering. Pictured: Gambaryan in his last video before he was jailed
His colleague Nadeem Anjarwalla (pictured) was charged alongside him and the company, but managed to escape using a smuggled passport before he could be incarcerated.
Gambaryan was detained in February after flying to the country to discuss compliance with Nigeria's SEC.
Tensions have flared between the platform and Nigerian officials amid the collapse of the country's currency, the Naira, which lawmakers believe to be partly due to trading on Binance.
The company's representatives were ordered to appear before the Nigerian House of Representatives to explain their activities.
Gambaryan flew to meet them on January 8, but the meeting soon turned combative with Binance accused of a host of tax violations.
At the conclusion of that meeting, Gambaryan was approached 'by unknown persons' who suggested, 'a significant payment in cryptocurrency to be paid in secret within 48 hours to make these issues go away.
Sources told the New York Times the demand was equivalent to $150 million.
Binance said it rejected the proposition, 'not viewing it to be a legitimate settlement offer'.
The exchange provided the context for the February meeting when Gambaryan returned to Nigeria for a second time to try and iron out the exact nature of the accusations.
Gambaryan, pictured ion court in April, was detained in February after flying to the country to discuss compliance with Nigeria's SEC
Tensions have flared between the platform and Nigerian officials amid the collapse of the country's currency, the Naira, which lawmakers believe to be partly due to trading on Binance. Pictured: High court in Abuja, Nigeria
Binance CEO Richard Teng has slammed the detention of his employee who he insisted is 'innocent'
While the meeting initially progressed well, relations broke down after a separate set of officials entered the discussions and demanded granular information about its Nigerian users which the
