{"id":13602,"date":"2024-05-17T15:43:13","date_gmt":"2024-05-17T12:43:13","guid":{"rendered":"https:\/\/forklog.com\/en\/nigerian-court-denies-bail-to-binance-executive\/"},"modified":"2024-05-17T15:43:13","modified_gmt":"2024-05-17T12:43:13","slug":"nigerian-court-denies-bail-to-binance-executive","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/nigerian-court-denies-bail-to-binance-executive\/","title":{"rendered":"Nigerian Court Denies Bail to Binance Executive"},"content":{"rendered":"

On May 17, the Federal High Court in Abuja rejected a bail application for Tigran Gambaryan, Vice President of Global Intelligence and Investigations at cryptocurrency exchange Binance, according to local media<\/a>.<\/p>\n

Reports indicate that the judge, after a thorough review of the application, concluded that the accused would not appear in court if released on bail.<\/p>\n

Earlier, Binance CEO Richard Teng appealed to Nigerian authorities for Gambaryan’s release, describing the executive’s arrest as a means of exerting pressure on the exchange. He also mentioned an extortion attempt by “unknown individuals.” The Nigerian government denied allegations of bribery.<\/p>\n

Nadim Anjarwalla, Binance’s Director for West and East Africa, who was detained alongside Gambaryan, managed to escape custody<\/a> to Kenya. However, Nigerian authorities tracked him down<\/a> and are preparing extradition.<\/p>\n

Binance Holdings Limited, Gambaryan, and Anjarwalla face charges<\/a> of tax evasion and using the exchange to launder nearly $21.6 billion.<\/p>\n

Authorities have demanded Binance provide data on all Nigerian users<\/a> and their transaction histories. The platform is also required to settle any outstanding tax liabilities.<\/p>\n

Binance potentially faces a $10 billion fine<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

On May 17, the Federal High Court in Abuja rejected a bail application for Tigran Gambaryan, Vice President of Global Intelligence and Investigations at cryptocurrency exchange Binance, according to local media. Reports indicate that the judge, after a thorough review of the application, concluded that the accused would not appear in court if released on […]<\/p>\n","protected":false},"author":1,"featured_media":13601,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[744,1162,150],"class_list":["post-13602","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-binance","tag-court-cases","tag-nigeria"],"aioseo_notices":[],"amp_enabled":true,"views":"23","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/13602","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=13602"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/13602\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/13601"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=13602"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=13602"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=13602"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}