A Nigerian court has ruled that a detained Binance executive, Tigran Gambaryan, can face trial as a representative of the cryptocurrency exchange.
Gambaryan’s Role
Despite Binance’s claims that Gambaryan lacks decision-making authority, the judge has held him responsible due to his position as the company’s compliance officer. Gambaryan was initially arrested in April on charges of money laundering and tax evasion.
Binance’s Response
Binance has expressed disappointment over Gambaryan’s continued detention, stating that the charges against him are baseless. The company has pledged to cooperate with Nigerian authorities to resolve tax issues but insists on Gambaryan’s release.
Trial Details
Gambaryan faces five charges, including operating without a license, tax evasion, and obfuscating the origins of funds. He has pleaded not guilty to all charges.
Binance’s CEO Speaks Out
Binance CEO Richard Teng has demanded Gambaryan’s release, promising that the company will work with Nigeria to address tax concerns. Teng emphasized Binance’s commitment to protecting users and preventing illegal activities on its platform.
