May 28, 2024

The escaped top manager of Binance was tracked down in Kenya.

investigation of Nigerian authorities into binance
investigation of Nigerian authorities into binance

The government of Nigeria has tracked down Binance top manager Nadim Anjarwalla who had fled to Kenya. This was reported by the publication Punch.

Together with Interpol and the Kenyan police, the question of extraditing the exchange employee back to Nigeria to face charges is being resolved.

Anjarwalla, who holds the position of director at Binance in West and East Africa, fled on March 22. He left the country on an international flight of a Middle Eastern airline, presenting a Kenyan passport.

His colleague, Tigran Gambaryan, was arrested in the Nigerian capital, Abuja, last week. The case is scheduled for April 19. Over 3400 signatures have been collected under a petition for Gambaryan’s release.

The Chairman of the Nigerian Blockchain Industry Coordinating Committee, Lucky Uvakwe, commented to Cointelegraph that local investors are concerned about the Binance investigation. Against the government’s hostility, they are refusing deals and partnerships, especially in the Web3 sector.

“By imposing fines on Binance, the government is essentially undermining the entire industry, sacrificing potential growth for short-term measures,” Uvakwe explained.

He is very skeptical about the chances of clearing the exchange’s top management unless the company “meets certain conditions.”

“But even in this case, there is a high probability that the Nigerian government may ignore the court’s decision [on clearance],” warned the expert.

Recall, the Nigerian authorities accuse Binance Holdings Limited, Tigran Gambaryan, and Nadim Anjarwalla of tax evasion.

They insist that private individuals used the exchange for money laundering almost $21.6 billion.

Earlier, Binance was required to provide data on all users from Nigeria and the history of their transactions. The platform was also required to settle any outstanding tax obligations.

Binance could face a potential fine of $10 billion.

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