US Congress Urges Biden to Intervene in Binance’s Nigerian Dispute

Members of the US Congress have called on President Joe Biden to intervene in the legal proceedings involving cryptocurrency exchange Binance in Nigeria and to assist in repatriating the company’s top executive, Tigran Gambaryan.

?NEW: House members including Chairman @RepMcCaul of the @HouseForeignGOP have sent a letter to @POTUS, @SecBlinken and @StateSPEHA urging them to bring detained @binance employee Tigran Gambaryan home.

According to the letter, Gambaryan has contracted malaria and is being… pic.twitter.com/XCRyS8IPUT

— Eleanor Terrett (@EleanorTerrett) June 4, 2024

The appeal is also addressed to Secretary of State Antony Blinken and the President’s Special Envoy for Hostage Affairs, Roger D. Carstens. The authors of the letter emphasized that Gambaryan has been “wrongfully detained” for over three months. They argue that urgent measures are needed before the situation deteriorates further.

In late May, Gambaryan was diagnosed with malaria. According to the congress members, the demand to transfer him to a private clinic for treatment has not been met.

“We fear for his life. Immediate action is necessary to ensure his safety. We must act quickly before it is too late,” they added.

Earlier, Nigerian authorities accused 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.

Previously, Gambaryan was denied bail over fears he might flee. Anjarwalla secretly flew from Nigeria to Kenya in late March. However, authorities tracked him down there and are preparing extradition.

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

Binance potentially faces a fine of $10 billion.