Former US Officials Urge Release of Binance Executive Detained in Nigeria

108 former federal prosecutors and agents from the United States have penned a letter to Secretary of State Antony Blinken, urging assistance in securing the release of Tigran Gambaryan, Vice President for Global Intelligence and Investigations at cryptocurrency exchange Binance, from custody in Nigeria.

They argue that the US government is making “insufficient efforts” in this matter, warning that the consequences could be “dire.”

The former officials highlighted Gambaryan’s achievements during his tenure as a special agent with the Internal Revenue Service, a position he held for over a decade.

Gambaryan led several major cybercrime investigations, including a case involving corrupt agency agents accused of stealing cryptocurrency from the darknet marketplace Silk Road. He also conducted investigations related to money laundering on the BTC-e platform and the hacking of the Mt. Gox bitcoin exchange.

“Some of us have worked alongside Tigran and have witnessed his tireless dedication to the rule of law,” the document states.

According to the letter’s authors, the Binance executive is detained on false charges, and his position does not entail authorized representation of the company in legal proceedings.

Previously, members of the US Congress also called on President Joe Biden to intervene in the legal proceedings involving Binance in Nigeria.

Nigerian authorities accuse Binance Holdings Limited, Gambaryan, and the exchange’s director for West and East Africa, Nadeem Anjarwalla, of tax evasion. They are also charged with laundering at least $21.6 billion and conducting specialized financial activities without a license. The company and its executives deny the allegations.

Gambaryan was previously denied bail over fears he might flee. Anjarwalla secretly flew from Nigeria to Kenya at the end of March. However, authorities tracked him down there and are preparing extradition.

The exchange has been required to provide data on all users from Nigeria and their transaction history. The platform is also obliged to settle any outstanding tax liabilities.

Binance potentially faces a $10 billion fine.