The Legal Battle of a Detained Binance Executive in Nigeria 🚨
A recent report by Reuters reveals that a Nigerian court has ruled that a U.S. citizen, Tigran Gambaryan, Binance’s chief financial compliance officer, can be tried on behalf of the crypto exchange platform in an ongoing case involving tax evasion and money laundering.
The Dispute Over Decision-Making Power 🔍
Despite the court’s decision, Binance has stated that Gambaryan does not have the authority to make decisions for the company. A spokesperson for Binance expressed disappointment over Gambaryan’s detention, labeling the charges against him as baseless and advocating for his release while discussions between Binance and Nigerian authorities continue.
- Gambaryan, as Binance’s compliance officer, is being held accountable by the court.
- He was initially detained in April on charges of money laundering and tax evasion.
- Gambaryan pleaded not guilty to five charges, including operating without a license and obfuscating fund origins.
Binance Appeals for Resolution 🤝
In response to Gambaryan’s detention, Binance CEO Richard Teng called for his release and reiterated the company’s commitment to cooperating with Nigerian officials to address tax-related issues. Teng emphasized the platform’s dedication to safeguarding innocent users and emphasized that malicious actors are not welcomed on their platform.
For further details, the full article can be accessed here.
Hot Take on the Legal Tussle 👀
This legal battle highlights the complexities that can arise in the crypto industry, underscoring the importance of regulatory compliance and transparent operations for exchanges operating in different jurisdictions.
Sources: Reuters
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