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Detained Employee, Tigran Gambaryan Is Not Part Of Our Management – Binance Says

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The global cryptocurrency trading platform, Binance has said that its employee, Tigran Gambaryan, who is currently being detained in Nigeria, is not part of its management team and has no decision-making power in the company.

According to the company, Tigran Gambaryan, an American citizen, is known globally as someone fully dedicated to law enforcement.

In February, Gambaryan, a US citizen and the head of financial crime compliance at Binance, and his colleague Nadeem Anjarwalla, who has escaped from custody, were detained by the Nigerian government for financial and other related offences.

Nigeria’s anti-corruption agency, Economic and Financial Crimes Commission (EFCC) In its charge filed on March 28, accused Binance and the two executives of laundering about $35,400,000.

In count one of the charges, the EFCC accused them of carrying out the specialised business of other financial institutions without a valid licence between January 2023 and January 2024 in Abuja.

However, a statement on Wednesday by a spokesperson for the company urged the Nigerian government not to hold Gambaryan responsible for the alleged fraud.

“Binance respectfully requests that Tigran Gambaryan, who has no decision-making power in the company, is not held responsible while current discussions are ongoing between Binance and Nigerian government officials,” it said.

The statement also said, “For a decade, he served as a U.S. Federal Agent investigating cases involving national security, terrorism financing, identity theft, distribution of child pornography, tax evasion, and bank secrecy act violations.

“As part of the elite cyber investigations team in the U.S. Treasury Department’s IRS Criminal Investigations (IRS-CI) unit, Tigran led several multi-billion dollar investigations, including the Silk Road corruption investigations, BTC-e bitcoin exchange, and the Mt. Gox hack.

“He also played a pivotal role in probing Alphabay, Wall Street Marketplace, Welcome2Video, and the high-profile “VIP” Twitter hack, working alongside the Federal Bureau of Investigations and the United States Secret Service. Tigran later assumed the role of the IRS-CI representative at the National Cyber Investigative Joint Task Force (NCIJTF), focusing on national security and terrorism financing.

“Tigran is so well known as the world’s preeminent cyber crimes investigator that a book, Tracer’s in the Dark, was written about his efforts to bring down some of history’s most notorious cyber criminals.

“Given this background, Tigran was hired in 2021 to help Binance fix past compliance issues. As the head of Binance’s Financial Crime Compliance (FCC) team, he has been a strong advocate for Binance to develop policies and build compliance capabilities that set new industry standards.

“In 2022 and 2023, Tigran’s Financial Crime Compliance team assisted global law enforcement in freezing and seizing more than $2.2B worth of assets, including more than $285M in cooperation with United States Agencies like the FBI, DOJ, DEA, and others.

“In the past several years, he, along with his FCC team, responded to more than 600 information requests coming from Nigerian law enforcement agencies or related to investigations pertinent to Nigeria.

“The information provided helped tackle crimes ranging from scams and fraud to money laundering, blackmail, kidnapping, and extortion, leading to multiple asset freezes and seizures, totalling more than $400,000 USD.

“Tigran’s team also provided multiple training sessions for Nigerian crime fighters on the role of exchanges in the digital-asset ecosystem. This included a three-hour online workshop for 70 Nigerian EFCC officials in mid-2023 and, late last year, two full-day sessions for EFCC officials in Abuja and Lagos, with more than 30 investigators attending each of them.

“Tigran is a strict law enforcement professional and is not part of Binance management. While he has left official service of the U.S. government, he has remained fully committed to the role of law enforcement officer ever since, operating as a global advocate for good governance and transparent regulatory financial practices.”

Nelly Agwu is an educationist, a journalist, a Blogger, graduate of History. Very dynamic and a realist. A mouthpiece of the oppressed. Easy going and a Philanthropist.

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