Richard Teng confirmed that the Binance team is officially working with Nigerian authorities to settle the $35 million money laundering case.
Binance is a highly ranked crypto exchange, known for its very crypto trader-friendly interface. The services of this crypto exchange are available in several countries. In recent years, this crypto company has shut down crypto companies from half a dozen countries due to regulatory measures.
As we know a few months ago, Nigerian authorities arrested two Binance managers Tigran Gambaryan and Nadeem Anjarwalla. Binance officials are facing charges of laundering more than $35 million. Just a week ago, Nadeem Anjarwalla managed to escape from custody while investigators tracked his location in Kenya.
On April 19, 2024, Binance CEO Richard Teng, who spoke about Gambaryan’s case at the Token2049 crypto conference in Dubai, said that the Binance team was working very closely with Nigerian authorities.
However, Richard failed to provide any significant information or new progress in the case, but he confirmed that they are in discussions with authorities to resolve the case as soon as possible.
Charges against Binance and Binance executives
Following the country’s decision to ban several cryptocurrency trading platforms, Binance executives Anjarwalla and Gambaryan flew to Nigeria.
On February 26, shortly after arriving in the country, they were detained by Nigeria’s anti-corruption agency, the Economic and Financial Crimes Commission (EFCC).
Speaking separately to Reuters media, Binance’s head of regional markets Vishal Sacheendran said such incidents have never happened to Binance or its executives.
Vishal declined to provide any information regarding the charges against the Binance exchange by Nigerian authorities.
Binance, Dubai and license
It is worth noting that just a day ago, Binance obtained a full crypto license from Dubai crypto regulatory body VARA to provide services to retail clients in addition to qualified and institutional clients.
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