Biden thanks Nigerian president for release of Binance executive Gambaryan
In regards to the release of Binance senior executive Tigran Gambaryan, the president of the United States has conveyed his appreciation to Bola Ahmed Tinubu, the president of Nigeria.
Biden thanks Tinubu on Binance executive release
The Nigerian President and U.S. President had a conversation on October 29th. Biden first expressed his sympathy for the recent flooding that has affected the northeastern part of the country and emphasized his gratitude for President Tinubu's leadership in securing the release of Tigran Gambaryan, a former United States law enforcement official and an American citizen, last week from detention based on humanitarian reasons.
Biden and Tinubu partnership discussion
President Biden specifically thanked both parties for their cooperation on new and innovative technologies, their shared interest in reforming international organizations to include African voices, and their cooperation on law enforcement, including through the recently announced Bilateral Liaison Group on Illicit Finance and Cryptocurrencies.
Binance executive released on humanitarian parole
White House national security adviser Jake Sullivan said on Thursday, October 24th, that Gambaryan had been released on humanitarian parole and was heading back to the US for medical care.
Gambaryan's last legal issues were money laundering accusations from Nigeria's Economic and Financial Crimes Commission (EFCC) after authorities dropped tax evasion charges against him in June.
Background of Gambaryan arrest
On February 25, Binance executives Anjarwalla and Gambaryan traveled to Nigeria to talk about the cryptocurrency exchange's operations. The next day, both executives were arrested by Nigerian authorities who were allegedly investigating "suspicious flows" through Binance's local branch.
Nigerian authorities have accused Gambaryan and Binance, the world's largest cryptocurrency exchange, of manipulating the local naira currency and using the platform to launder up to $35 million. These accusations have been refuted by both sides.
Nigerian authorities also accused the Binance executives of evading taxes. The Federal Inland Revenue Service (FIRS) of Nigeria dropped the tax evasion charges against Anjarwalla and Gambaryan on June 14. Gambaryan pleaded not guilty to the money laundering charges during a hearing held in an Abuja courtroom on April 8.
Some lawmakers urged US President Joe Biden to intervene after former federal prosecutors and U.S. agents wrote to the State Department in June, requesting the release of the Binance executive. Representatives French Hill and Chrissy Houlahan said the Binance executive had lost a lot of weight and was very ill during their tour of the prison where Gambaryan was being held.
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