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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/us-lawmakers-urge-biden-to-act-for-binance-executives-release-in-nigeria/" data-wpel-link="internal">US Lawmakers Urge Biden to Act for Binance Executive’s Release in Nigeria</a><br></p>
<p style="text-align: justify">US lawmakers called on President <strong>Joe Biden</strong> to take immediate action to secure the release of Binance executive Tigran Gambaryan from detention in Nigeria. Led by House Foreign Affairs Committee Chairman Michael McCaul, 15 Congress members sent letters to President Biden, Secretary of State Antony Blinken, and Special Presidential Envoy for Hostage Affairs Roger Carstens. The letters emphasized the urgency of treating Gambaryan’s situation as a hostage crisis, citing concerns about his health and safety due to inadequate medical care and harsh treatment during his three-month detention.</p> 
<h2 style="text-align: justify" id="what-did-the-court-decide">What Did the Court Decide?</h2> 
<p style="text-align: justify">The bail request for US citizen and <strong>Binance</strong> Head of Financial Crimes Compliance Gambaryan was denied by the Nigerian Federal High Court on May 17. The court ruled that Gambaryan posed a flight risk amid a $35 million indictment against him and Binance for money laundering and tax violations.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-359423 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/06/blockchain-20.jpg" alt="" width="740" height="415"></p> 
<p style="text-align: justify">The lawmakers’ letter highlighted that Gambaryan’s condition was critical when he appeared in court on May 22 and that he needed hospitalization due to malaria. Despite a court order for his transfer to a private hospital, the prison had not fully complied with this directive as of June 4.</p> 
<h2 style="text-align: justify" id="when-did-the-ordeal-begin">When Did the Ordeal Begin?</h2> 
<p style="text-align: justify">The ordeal began on February 26 when Gambaryan and Binance’s Africa Regional Director <strong>Nadeem Anjarwalla</strong> were detained upon their arrival in Abuja. They were charged on February 28. Anjarwalla escaped custody on March 22, leaving Gambaryan to face legal challenges alone.</p> 
<p style="text-align: justify">US lawmakers are particularly concerned about Gambaryan’s detention conditions and deteriorating health. They call for an urgent solution to prevent further harm.</p> 
<h2 style="text-align: justify" id="binance-ceo-s-statement">Binance CEO’s Statement</h2> 
<p style="text-align: justify">Binance CEO <strong>Richard Teng</strong> vouched for Gambaryan’s integrity, highlighting his background as a former Special Agent for the US IRS and his contributions to combating <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">financial</a> crimes. Since joining Binance in 2021, Gambaryan has played a key role in strengthening the exchange’s compliance controls and assisting global law enforcement in seizing over $2.2 billion in assets.</p> 
<p style="text-align: justify">Teng’s advocacy underscored Gambaryan’s significant contributions to preventing financial crimes and the unjust nature of his detention. The conflict between Binance and Nigerian authorities dates back to May 2022, when the Nigerian Securities and Exchange Commission (SEC) introduced regulations requiring permits for <a href="https://en.coin-turk.com/bitmex-increases-leverage-to-250x-just-before-bitcoin-halving/" data-wpel-link="internal">cryptocurrency exchanges</a>.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/us-lawmakers-urge-biden-to-act-for-binance-executives-release-in-nigeria/" data-wpel-link="internal">US Lawmakers Urge Biden to Act for Binance Executive’s Release in Nigeria</a></h5>

US Lawmakers Urge Biden to Act for Binance Executive’s Release in Nigeria

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