Arrested Binance Employee Gambaryan Not a Decision-Maker, Says Exchange

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Binance, the cryptocurrency exchange, has issued a statement clarifying the role of its employee, Tigran Gambaryan, who is currently held in Nigeria. The company emphasized that Gambaryan, an American, is not part of its management team but serves solely as a law enforcement professional without decision-making authority.

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Gambaryan and his colleague, Nadeem Anjarwalla, were arrested in Nigeria in February on suspicion of involvement in money laundering activities. While Gambaryan remains in custody, Anjarwalla has fled the country, prompting inquiries about his whereabouts.

Binance stressed that Gambaryan was hired in 2021 to address compliance issues and has since played a pivotal role in developing policies and compliance capabilities. Gambaryan’s Financial Crime Compliance team has assisted global law enforcement in freezing and seizing over $2.2 billion worth of assets, including significant cooperation with United States agencies.

Furthermore, Gambaryan and his team provided training sessions for Nigerian crime fighters on the role of exchanges in the digital-asset ecosystem. Despite these efforts, Gambaryan faces charges of money laundering alongside Binance Holdings Limited and Anjarwalla, set to be arraigned by the EFCC.

The EFCC, now leading the case, is collaborating with INTERPOL, the FBI, and other agencies to apprehend Anjarwalla, who escaped custody. Negotiations are ongoing between Binance and Nigerian authorities regarding data requests related to user transactions.

The saga began after Binance executives were detained following a ban on their website, with subsequent demands from the EFCC for user data. As the situation unfolds, the exchange seeks to clarify Gambaryan’s role and address legal proceedings surrounding the case.


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Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

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