Binance’s New CEO Richard Teng Makes Harsh Statement on the Arrest of Its Executive

cryptocurrency exchange Binance is calling on the U.S. government and international organizations to apply political pressure to free its executive Tigran Gambaryan, citing his rapidly deteriorating health and what it describes as unfair detention practices by Nigerian authorities.

Gambaryan, who has been held in Nigeria for over six months, is reportedly suffering from serious physical and mental health issues, according to Binance CEO Richard Teng. Teng reiterated calls for the release of the US citizen, saying Gambaryan should be allowed to return home immediately on humanitarian grounds.

Gambaryan, a former U.S. IRS Special Agent and currently Binance’s Head of Financial Compliance, was detained in Abuja, Nigeria, on Feb. 26, along with Binance’s Africa Regional Manager Nadeem Anjarwalla. The detentions come after accusations that Binance profited from illegal transactions in the country. On Feb. 28, criminal charges were filed against Binance and two executives, including a $35 million indictment for money laundering and tax violations.

While the tax charges were dropped in June, Anjarwalla managed to escape custody on March 22 and Gambaryan remains in custody.

“Despite Tigran being in severe pain and unable to walk, the Nigerian government has refused to provide him with necessary medical care or access to a lawyer, which is unconstitutional,” Teng said. “He has also been denied access to US consular support. The Nigerian government is detaining Tigran based on false allegations linking Binance to the country’s economic problems, such as the depreciation of the Naira. These allegations are without merit.”

*This is not investment advice.