Richard

Million

Arthur

USDe

The world’s largest <a href="https://coingape.com/blog/binance-exchange-review/" target="_blank" rel="noopener noreferrer nofollow">crypto exchange Binance</a> on Tuesday said it was asked for $150 million in bribes by Nigerian government officials to get away with the legal proceedings on Binance executives Tigran Gambaryan and Nadeem Anjarwalla.
Binance was asked to make the secret payment in crypto within an account on its crypto exchange. The executives have denied making payments to officials.
<h2 id="binance-asked-to-pay-150-million-to-resolve-issues">Binance Asked to Pay $150 Million to Resolve Issues</h2>
Richard Teng, CEO of Binance Holdings, on May 7 said President Bola Ahmed Tinubu administration has approached Binance employees seeking to extract large amount of money to settle the tax evasion and money laundering charges.
Binance tried to engage with Nigerian authorities, including a Jan. 8 meeting, where the criminal allegations were brought on executives.
“As our employees were leaving the venue, they were approached by unknown persons who suggested to them to make a payment in settlement of the allegations. Binance lawyer was presented with a demand for a significant payment in cryptocurrency to be paid in secret within 48 hours to make these issues go away,” said Richard Teng.
<a rel="noopener noreferrer nofollow" href="https://gazettengr.com/tinubus-aides-demanded-150-million-bribe-to-make-illegal-claim-go-away-binance-ceo/" target="_blank">Peoples Gazette</a> and <a rel="noopener noreferrer nofollow" href="https://www.nytimes.com/2024/05/07/technology/binance-nigeria-tigran-gambaryan.html" target="_blank">New York Times</a> reported Nigerian government officials were accused of soliciting $150 million in bribes in order to make the recent fraud charges “go away”. Binance has insisted that the allegations were meritless and illegal, with Binance executives detained even after court orders expired.
Also Read: <a href="https://coingape.com/sec-chair-gary-gensler-shares-vital-insights-robinhood-ethereums-future/" target="_blank" rel="noopener noreferrer nofollow">SEC Chair Gary Gensler Shares Vital Insights On Robinhood &amp; Ethereum’s Future</a>
<h2 id="charges-on-binance-and-tigrangambaryan">Charges on Binance and Tigran&nbsp;Gambaryan</h2>
Binance executives Tigran Gambaryan and Nadeem Anjarwalla were arrested in February, starting the latest trouble for the crypto exchange after <a href="https://coingape.com/tag/changpeng-zhao" target="_blank" rel="noopener noreferrer nofollow">Changpeng Zhao</a> stepped down and Binance paid $4.3 billion in fines to settle the U.S. DOJ allegations including money laundering.
Nadeem Anjarwalla escaped from custody, possibly bribed officials with crypto, to fled to Kenya. Kenyan authorities later denied arresting Anjarwalla for escape from custody.
Nigerian authorities have charged both Binance and compliance officer Tigran Gambaryan with tax evasion and money laundering. Nigerian officials have blamed crypto especially Binance for the collapse of the country’s currency Naira.
<a href="https://coingape.com/binance-ceo-urges-tigran-gambaryan-release-nigeria-crisis/" target="_blank" rel="noopener noreferrer nofollow">Binance CEO</a> Richard Teng advocates for its executive Tigran Gambaryan’s release amidst the Nigerian detainment crisis, emphasizing justice and corporate integrity. <a href="https://coingape.com/binance-tax-case-hearing-pushed-to-mid-may-in-nigeria/" target="_blank" rel="noopener noreferrer nofollow">Gambaryan’s trial</a> was postponed to May 17.
Also Read: <a href="https://coingape.com/arthur-hayes-predicts-ena-to-hit-10-as-bybit-integrates-usde/" target="_blank" rel="noopener noreferrer nofollow">Arthur Hayes Predicts ENA to Hit $10 as Bybit Integrates USDe</a>
The post <a href="https://coingape.com/binance-ceo-reveals-150-million-bribe-conflicts-nigeria-government/" rel="noopener noreferrer nofollow">Breaking: Binance CEO Reveals $150 Million Bribe, Conflicts With Nigeria’s Government</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Breaking: Binance CEO Reveals $150 Million Bribe, Conflicts With Nigeria’s Government

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