President Biden Applauds Nigerian President for Release of Detained Binance Executive
Biden commends Nigeria for release of Binance executive
In a recent diplomatic move, U.S. President Joe Biden expressed gratitude to Nigeria’s President Bola Tinubu for securing the release of Tigran Gambaryan, Binance’s head of financial crime compliance, who had been held in Nigerian custody for eight months. The White House confirmed on October 29 that Biden acknowledged Tinubu’s efforts to facilitate Gambaryan’s return to the United States on humanitarian grounds.
Gambaryan, a former IRS special agent, was detained alongside his colleague Nadeem Anjarwalla in February after arriving in Abuja for discussions on Binance’s regulatory compliance. While Anjarwalla managed to flee to Kenya in March, Gambaryan faced prolonged imprisonment at Nigeria’s Kuje Prison, where he endured severe health issues, including pneumonia, malaria, and spinal complications. Despite his condition, Nigerian authorities repeatedly denied bail, citing a flight risk.
The case garnered international attention, with many suggesting the charges against Gambaryan were an indirect strike at Binance. In September, a video of Gambaryan struggling to walk to court sparked global outrage, leading Binance CEO Richard Teng to publicly denounce his treatment. After months of delays, Nigerian officials dropped the tax evasion charges in June and subsequently the money laundering charges in October, paving the way for Gambaryan’s release. Within 24 hours of the final charges being lifted, Gambaryan departed Nigeria to seek medical treatment in the U.S.
The case highlights ongoing challenges in international business compliance and diplomatic relations, with President Biden’s acknowledgment underscoring the importance of humanitarian considerations in cross-border legal cases.