2024-03-26
The situation involving the Binance executives in Nigeria is quite concerning, with reports indicating an escape using a fake passport amid tax evasion, allegations and detainment.
Binance is facing legal challenges and accusations of involvement in money laundering and terrorist financing, with the Nigerian government taking stringent actions.
Anjarwalla, Binance's regional director for Africa, and Gambaryan, an American citizen who headed Binance's criminal investigation team, were arrested after arriving in Nigeria on February 26.
The men were arrested after a criminal complaint was filed against them in the Abuja Magistrates Court.
The court authorized the Economic and Financial Crimes Commission (EFCC) to detain the two men for 14 days.
He added that Binance provides the Nigerian government with information and details regarding Nigerian investors using its platform.
However, after Binance refused to comply with the court order, the court extended the workers' detention for another 14 days.
Anjarwalla allegedly fled Nigeria using a Kenyan passport, despite being in custody without access to other travel documents, underscores potential security vulnerabilities and procedural lapses.
According to reports, the men were granted several privileges while in detention, including using cell phones.
Binance exchange was used to launder approximately $21 billion, according to a government report.
