The post U.S. Officials Push to Free Binance Executive from Nigeria appeared on BitcoinEthereumNews.com.

Tigran Gambaryan, the head of financial crime compliance for Binance, has been stuck in Nigerian custody since February 2024. The visit, intended to address concerns about Binance’s involvement in Nigeria’s economic issues, turned into something far more serious. Gambaryan was initially charged with tax evasion and money laundering, though the tax charges were later dropped. Now, the African nation and Binance are pulling him into a tug-of-war, leaving his future uncertain. Why Gambaryan’s Detention is Alarming Gambaryan’s health has taken a dramatic turn for the worse since his detention. He has contracted malaria, pneumonia, and tonsillitis. On top of that, he suffers from a herniated disc that requires surgery—a surgery he hasn’t been able to get in prison. Confined to a wheelchair, the Binance executive has been denied proper medical attention for months. His lawyers have filed multiple bail requests, pointing to his deteriorating condition, but the Nigerian courts continue to reject them. The situation has prompted U.S. attorneys general, led by Utah’s Sean Reyes, to take action. They’ve sent a letter to President Joe Biden and Secretary of State Antony Blinken, urging them to classify Gambaryan as a hostage. The letter grimly compares his treatment to Otto Warmbier, the American student who tragically died after being held in North Korea. What’s Really Going On? Gambaryan’s arrest stems from allegations that Binance was destabilizing Nigeria’s local currency. While the Nigerian economy has been struggling for a while—largely due to corruption and poor management—officials have pointed fingers at Binance, looking for someone to blame. Gambaryan, along with another Binance executive, became convenient targets. But many, including U.S. lawmakers and humanitarian groups, argue that his detention is unjust. The accusations against him seem more like an excuse to hold him as leverage against Binance. His legal team, led by attorney Mark Mordi,…

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Filed under: News - @ October 19, 2024 7:14 pm