Tigran Gamaryan was a former IRS Agent and Binance Executive who spent eight months being detained in Nigeria for money laundering charges.
Taking in daring escapes, courtroom collapses, and Congressional resolutions, the unfolding saga was akin to a Hollywood movie—but with very real consequences for those involved. The story is told below.
Gambaryan is a U.S. Citizen who joined Binance in September 2021 as the VP Global Intelligence and Investigations. He brought with him a wealth of experience from a decade as a former special agent with the IRS Cyber Crimes Unit, where he’d investigated cases involving national security, terrorism financing and child sexual abuse material (CSAM), as well as taking on some of the biggest investigations in crypto to that point—such as the Silk Road corruption investigations and the Mt. Gox hack.
Gambaryan stated that Binance will be launched at the same time. “work closely with our colleagues in compliance to identify criminals and refer them for prosecution.” It was hard to imagine that, just two years later, his own trial would take place on currency manipulation charges and money laundering.
Gambaryan arrived in Nigeria with Nadeem Ajarwalla and Binance regional director for Africa Nadeem Anjarwalla to meet officials.
A currency crisis had led the country’s Government to blame crypto trading platforms.
Nigeria, as part of its ongoing investigation on crypto exchanges demanded Binance to provide information about the top 100 users from the country and their transactions for the last six months.
Binance’s executives knew that this venture would be risky. Gambaryan, his co-workers, and a few others had fled the country hurriedly weeks earlier. They were afraid they would be arrested by local authorities, after being told by an official to leave. “settle” Tax evasion or “they might not leave Nigeria.”
Gambaryan promised his wife Yuki he’d be there for her. “get in and get out.”
“You’re our guest now”
His fears came true. Gambaryan, Anjarwalla and the Nigerian anticorruption agency EFCC were arrested by the Nigerian government on February 28, 2018. Gambaryan, Anjarwalla, and their lawyer were held in custody for 14 days, even though no charges had been filed against them. The court ordered this, but it was later extended.
According to reports, a Nigerian government official informed the two that they were being held in a secured compound with armed guards. “You’re our guest now.”
The executives were allowed to retain their mobile phones while the passports of those in charge were confiscated.
A month later, in a dramatic development, Anjarwalla, a British Kenyan, escaped custody during a visit to a local mosque, fleeing the country using a concealed Kenyan passport—having only handed his British passport to authorities.
Anjarwalla escaped, and things got worse for Anjarwalla’s colleague. Anjarwalla’s departure from Nigeria prompted the Federal Inland Revenue Service to charge Binance, Gambaryan and Anjarwalla for tax evasion. Days later, the exchange, along with Gambaryan and Anjarwalla, were hit with charges of money laundering to the tune of $35 million by the EFCC—which suggested that Gambaryan could face charges on the exchange’s behalf.
“Blackmail”
Gambaryan then was moved to Kuje Prison, which used to hold suspected Boko Haram terrorists. At the time Gambaryan’s wife claimed that Nigerian authorities were holding him as "blackmail,” while Binance issued a statement saying that he had no decision-making power at the company.
Given Gambaryan’s status as a U.S. citizen, and one who had “been a cop my whole life,” it’s perhaps surprising that the U.S. government initially dragged its heels over his plight.
Despite the presence in Nigeria of a Congressional delegation to discuss democracy and freedom at the time of Gambaryan’s detention, neither they nor the State Department initially raised the issue with the Nigerian government—with the delegation claiming to have departed Nigeria prior to receiving outreach from the Gambaryan family.
Indeed, it was several months before U.S. officials took notice of Gambaryan’s situation, during which his health worsened to the point where he collapsed in court on the second day of his trial.
By early June, efforts to secure Gambaryan’s release had ramped up. His local Representative, Rich McCormick (R-GA), joined House Foreign Affairs Committee Chairman Michael McCaul (R-TX) and 14 of their House Republican colleagues in sending a letter to President Biden. It declared that Gambaryan had been “wrongfully detained” by the Nigerian government, and urged the president to secure his release.
Days later, over 100 former federal prosecutors and federal agents wrote Secretary of State Tony Blinken, calling on the U.S. government to “step up its efforts” in Gambaryan’s case, and accusing Nigeria of denying him adequate medical care. As the Binance executive battled malaria and pneumonia, a bipartisan delegation of U.S. lawmakers visited him in prison, with Rep. French Hill (R-AR) decrying the "”Horrible” conditions in which he is being held.
By July, Gambaryan’s condition had deteriorated to the point where he required a wheelchair in court, while Rep. McCormick and Rep. Hill submitted a resolution to Congress calling for his immediate release—and accusing the Nigerian government of an effort to extort his employer.
Yuki Gamaryan struggled to find a way to communicate to her kids where her father was as the months went by. “My son saw an airplane in the sky and said, ‘Mommy, look there’s an airplane. Is Daddy on the airplane?’,” The woman told me Designated podcast.
McCormick also accused Biden of failing to have “done enough to bring him home,” The despite of “tremendous amount of leverage” It had captured Nigeria.
“The U.S. government,” he said. DecryptWas “not paying attention because there’s a lot of things going on this election cycle.” Also, he attributed Gambaryan’s apathy to something crypto-related “laziness” On the part of U.S. federal government, they argue that this industry is “something that’s very, very misunderstood still.”
Further, he suggested that Biden’s administration has been corrupted. “hypocritical” In failing to declare Gambaryan a “citizen wrongfully detained by a foreign government,” In contrast to the efforts made to free WNBA superstar Brittney Grinder from Russian detention.
“We’ve gone to bat for a young, healthy individual, and we’re not going to bat for somebody who is in poor health?” McCormick after Gambaryan struggling to walk was seen on footage taken in court.
Nigerians didn’t perform a surprise performance until the end of October. volte-faceGambaryan was released after the charges were dropped. The U.S. Department of State later announced it was launching a Bilateral Group for Illicit Finance & Cryptocurrencies with Nigeria, which pointed to an agreement behind the scenes to release Gambaryan.
I am so happy that Tigran Gambaryan has returned home safely and is well. pic.twitter.com/KoCUiwLpId
— French Hill (@RepFrenchHill) December 10, 2024
Gambaryan, who had been negotiating behind the scenes with the other parties, was now on his way to home. The dispute would be over. “living nightmare” He and his family experienced a lot.
Binance CEO Richard Teng was lauded for his executive skills. “immense strength” Looking forward “playing a constructive role” Nigerian officials have said that the government will pursue criminal charges against the Nigerian blockchain exchange. There are still tensions behind the eight-month long detention of Gambaryan.