Binance executive reportedly released from house arrest

good bye!

A Binance executive detained in Nigeria has reportedly escaped from prison.

around forbes, the fugitive executive Nadeem Anjarwala, a British-Kenyan national, was arrested by Nigerian authorities in February along with fellow Binancer Tigran Gambalyan, an American national.according to to CNBCReports that Anjarwala had escaped detention (the couple had been isolated in a guest house in Nigeria’s capital, Abuja) began swirling on Friday, and the rumors continued after the Nigerian government formally charged him with tax evasion on Monday. has been confirmed. struggled Cryptocurrency exchange.

“We have been informed that Mr. Nadeem is no longer in custody in Nigeria,” a Binance spokesperson said. CNBC. “The safety of our employees is our top priority and we are working with the Nigerian authorities to quickly resolve this issue.”

country’s national security adviser Said Reuters Nigeria is working with Interpol to issue an international arrest warrant for the executive. only the latest To Cryptocurrency Executive ride the ram.

bad move

Mr. Anjalwala and Mr. Gambarian’s detention in Nigeria was fraught with difficulties from the beginning.according to CNBC, the duo’s February arrest took place upon their arrival in Nigeria. Their passports were quickly confiscated and no charges were filed until Monday. Their detention was originally scheduled to end on March 12, but Nigerian authorities extended the deadline for their release because they had not yet been charged.

Binance has a large footprint in Nigeria, which is closely tied to the plummeting value of the country’s national currency, the naira.as CNBC Many Nigerians are plowing money into cryptocurrencies as a way to protect their savings from soaring inflation and falling values, which the Nigerian government claims is further contributing to the decline in the naira’s value. (One could argue that Binance preyed on Nigeria’s currency crisis, but Nigeria’s naira problem Much deeper than cryptocurrency. )

The government of that country is is also claimed Binance and other cryptocurrency platforms have enabled easy money laundering in the region, he said.

“Even just in the past year,” Nigeria’s Central Bank Governor Olayemi Cardoso said at a press conference in February after the executives were arrested. according to financial times newspaper, “$26 billion was leaked through Binance Nigeria from sources and users that we cannot fully identify.”

Considering that former Binance CEO Changpeng “CZ” Chao resigned from the exchange. Pleaded guilty to money laundering In a lawsuit filed in a US court in November, the claim doesn’t seem all that far-fetched.

around of BBC, Anjalwala and Gambalyan were finally scheduled to appear in court together in early April. Now, if Anjalwala is not tracked down, Gambarian may end up facing the court alone.

Learn more about Binance: Binance CEO pleads guilty to money laundering and resigns

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