Tigran Gambaryan, a Binance executive detained in Nigeria since February, is set to remain in custody until a bail hearing scheduled for May 17, according to reports from local news outlets on April 23.
Gambaryan, along with fellow Binance executive Nadeem Anjarwalla, traveled to Nigeria in February to address allegations of the exchange manipulating the country’s fiat currency, the naira. However, Nigerian authorities detained both executives after Binance announced its intention to cease all naira transactions.
Gambaryan faces charges of tax evasion and money laundering brought by Nigeria’s Economic and Financial Crimes Commission. He has pleaded not guilty, with a trial scheduled for May 2. Anjarwalla reportedly escaped custody in March but was later arrested in Kenya, possibly facing extradition to Nigeria.
Many have criticized the charges against Gambaryan, arguing that he had no decision-making power at Binance. His wife, Yuki Gambaryan, launched a petition for his release, garnering nearly 4,000 signatures as of April 23.
In a separate legal case in the United States, former Binance CEO Changpeng Zhao is expected to be sentenced on April 30 after pleading guilty to failure to maintain an Anti-Money Laundering program while leading the exchange. He could face up to 10 years in prison.
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