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Detained employee has no decision-making power – Binance

Binance Holdings Limited, a cryptocurrency exchange embroiled in a tussle with the Federal Government, has issued a statement saying that its employee that is still being held in custody has no decision-making power as he is not part of Binance management.

 

Recall that two employees of Binance, Nadeem Anjarwalla and Tigran Gambaryan were arrested in February over alleged money laundering.

They were detained in Abuja in ‘a safe house’ until Anjarwalla mysteriously escaped from detention and left the country on March 22.

In latest development, Binance issued a statement stating that Gambaryan who is remaining in custody is a strict law enforcement professional and is not part of Binance management.

While he has left official service of the US government, he has remained fully committed to the role of law enforcement officer ever since, operating as a global advocate for good governance and transparent regulatory financial practices.

The crypto firm stated that “Gambaryan was hired in 2021 to help Binance fix past compliance issues. As the head of Binance’s Financial Crime Compliance (FCC) team, he has been a strong advocate for Binance to develop policies and build compliance capabilities that set new industry standards.

In 2022 and 2023, Gambaryan’s Financial Crime Compliance team assisted global law enforcement in freezing and seizing more than $2.2B worth of assets, including more than $285M in cooperation with United States Agencies like the FBI, DOJ, DEA, and others.

“In the past several years, he, along with his FCC team, responded to more than 600 information requests coming from Nigerian law enforcement agencies or related to investigations pertinent to Nigeria.

“The information provided helped tackle crimes ranging from scams and fraud to money laundering, blackmail, kidnapping, and extortion, leading to multiple asset freezes and seizures, totalling more than $400,000 USD.”

Binance is demanding that “Gambaryan, who has no decision-making power in the company, is not held responsible while current discussions are ongoing between Binance and Nigerian government officials.“

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