Binance CEO’s Statement
Binance CEO Richard Teng has stated that the company is fully cooperating with Nigerian authorities in the ongoing $35 million money laundering case.
Arrests and Charges
Binance’s head of financial crime compliance, Tigran Gambaryan, and regional manager for Africa, Nadeem Anjarwalla, were arrested in Nigeria. Gambaryan faces money laundering charges, while Anjarwalla has since fled to Kenya.
International Collaboration
Nigerian authorities are collaborating with the Kenyan government and INTERPOL to extradite Anjarwalla. The Economic and Financial Crimes Commission (EFCC) is also working with international agencies like INTERPOL and the FBI to ensure his return.
Tax Evasion Allegations
In addition to the money laundering charges, Binance and its executives face tax evasion allegations from Nigeria’s Federal Inland Revenue Service. A court hearing for this case is scheduled for Friday.
Market Impact
Despite the legal troubles, Binance’s native token, BNB, remains relatively stable, trading at $556.
