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<ul> 
 <li>Nigerian court denies bail for Binance executive Tigran Gambaryan due to flight risk concerns.</li> 
 <li>Charges involve over $35 million in tax evasion and money laundering.</li> 
 <li>Court proceedings resume on May 23 for formal arraignment.</li> 
</ul> 
<p>Tigran Gambaryan, Binance’s head of crime compliance, had his bail application denied by a Nigerian court on Friday. The court cited the likelihood of Gambaryan fleeing if granted bail. Gambaryan and another Binance executive face tax evasion and money laundering charges in Nigeria.</p> 
<p>The accusations are based on claims that they avoided paying taxes and laundered over $35 million.</p> 
<p>Nigerian officials have adopted a strong position, mandating that the exchange deal with charges from the Federal Inland Revenue Service (FIRS) via Gambaryan. The court proceedings will continue on May 23 for a formal arraignment.</p> 
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   <p lang="en" dir="ltr">Court Denies Binance Executive Tigran Gambaryan Bail<a href="https://t.co/FO8XmZHMJu">https://t.co/FO8XmZHMJu</a> <a href="https://t.co/FToW4Wnfvn">pic.twitter.com/FToW4Wnfvn</a></p>— Channels Television (@channelstv) <a href="https://twitter.com/channelstv/status/1791417876680773795?ref_src=twsrc%5Etfw">May 17, 2024</a>
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<p><strong>Family and Legal Reactions</strong></p> 
<p>Gambaryan’s detention has drawn significant attention. His wife, Yuki Gambaryan, expressed disbelief and sorrow over her husband’s predicament, especially on his 40th birthday. She called for justice and his return home.&nbsp;</p> 
<p>Moreover, Binance issued a statement highlighting Gambaryan’s commitment to public service and the battle against crime and expressing disappointment over his prolonged confinement.</p> 
<p>The prosecution presented its first witness, Abdulkadir Abbas, from the Nigerian SEC. The defence requested a brief delay to obtain certified records for cross-examination.</p> 
<p>Tigran Gambaryan remains in custody in Nigeria, with significant legal battles ahead. Binance continues negotiating with Nigerian authorities, seeking a resolution to the charges faced by its executives and the exchange itself.</p> 
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 <li><a href="https://cryptonewsland.com/binance-ceos-bribery-allegations-could-impact-nigerias-investment/">Binance CEO’s Bribery Allegations Could Impact Nigeria’s Investment</a></li>
 <li><a href="https://cryptonewsland.com/bitcoin-is-a-more-equitable-economy-see-who-agrees/">Bitcoin Is a More Equitable Economy, See Who Agrees</a></li>
 <li><a href="https://cryptonewsland.com/sbf-to-pay-250k-bail-with-ankle-tag-to-gain-freedom/">SBF To Pay $250K, Bail, With Ankle Tag to Gain Freedom</a></li>
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<p>The post <a href="https://cryptonewsland.com/binance-executive-tigran-gambaryan-denied-bail-in-nigeria/">Binance Executive Tigran Gambaryan Denied Bail in Nigeria</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.</p>

Binance Executive Tigran Gambaryan Denied Bail in Nigeria

Crypto News Land

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