Amid ongoing scrutiny and legal battles, Binance has issued a statement clarifying the role of its employee, Tigran Gambaryan, who is currently detained in Nigeria on suspicion of involvement in money laundering activities.
Contrary to previous reports, Binance emphasised that Gambaryan, an American citizen, is not part of the company’s management team but serves solely as a law enforcement officer.
The exchange highlighted that Gambaryan lacks decision-making authority within Binance despite his past affiliation with the U.S. government.
Gambaryan’s arrest in February, along with his colleague Nadeem Anjarwalla, raised questions about their involvement in alleged illicit financial activities.
Binance confirmed that while Gambaryan remains in custody, Anjarwalla has fled the country, prompting inquiries about his whereabouts, to which Binance has yet to respond.
According to a report by The Punch, Binance Gambaryan was hired in 2021 to address compliance issues within the company.
As the head of Binance’s Financial Crime Compliance team, Gambaryan played a pivotal role in developing policies and building compliance capabilities to adhere to industry standards.
Furthermore, Binance noted Gambaryan’s contributions to global law enforcement efforts, highlighting his team’s assistance in freezing and seizing over $2.2 billion worth of assets, including cooperation with U.S. agencies such as the FBI, DOJ, and DEA.
The exchange also disclosed Gambaryan’s involvement in providing training sessions for Nigerian law enforcement officials on the role of cryptocurrency exchanges in the digital asset ecosystem.
Despite these efforts, Gambaryan finds himself embroiled in legal proceedings initiated by Nigeria’s Economic and Financial Crimes Commission (EFCC).
The EFCC has charged Binance Holdings Limited, Gambaryan, and Anjarwalla with money laundering allegations of $35.4 million.
Gambaryan remains detained, while Anjarwalla has evaded authorities, prompting the Federal Government to issue an arrest warrant through INTERPOL.
The unfolding situation has drawn international attention, with reports from publications such as the Financial Times detailing the arrests and subsequent legal actions against Binance executives.
Negotiations between Binance and Nigerian authorities regarding data requests are ongoing, further complicating the legal battle.
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