Nadeem Anjarwalla, a Binance executive facing charges in Nigeria who escaped from custody, was recently apprehended in Kenya after fleeing custody while awaiting extradition. Government sources familiar with the matter revealed that Anjarwalla’s arrest came after a concerted effort by law enforcement agencies from Nigeria and Kenya.
The Kenya Police Service confirmed the arrest and indicated that extradition proceedings are now in motion. The International Criminal Police Organization (INTERPOL) coordinates efforts to facilitate Anjarwalla’s return to Nigeria for trial.
Kenya Police Service, INTERPOL, and EFCC Working Together Towards Binance Executive Extradition
Kenya Police Detain Binance Executive, Nadeem Anjarwalla Who Fled Nigeria, To Extradite Suspect | Sahara Reporters https://t.co/1397XkKjMX pic.twitter.com/fZToPbj43q
— Sahara Reporters (@SaharaReporters) April 22, 2024
Before now, Anjarwalla and another Binance executive, Tigran Gambaryan, were detained in Nigeria over allegations of tax evasion, currency speculation, and money laundering amounting to $35.4 million.
Tigran Gambaryan recently pleaded not guilty to four money laundering charges. During a courtroom hearing on April 8, Gambaryan maintained his innocence, asserting he should not be held accountable for Binance’s activities in Nigeria. He cited his need for more decision-making authority in the company’s business operations.
However, Judge Emeka Nwite rejected Gambaryan’s defense argument, ruling that Gambaryan acted as Binance’s representative during previous trips to Nigeria, invoking local laws.
Consequently, Gambaryan’s case was adjourned, and the hearing for bail consideration was further postponed. The substantive charges against him are expected to commence on May 2, with Judge Nwite ordering Gambaryan to be remanded at Kuje prison in Abuja until the conclusion of the case, despite his attorney’s request for him to be returned to the custody of the Economic and Financial Crimes Commission (EFCC).
Meanwhile, Nadeem Anjarwalla, Binance’s Africa Regional Manager, escaped and fled Nigeria in March and was later traced down to Kenya and arrested by the Kenya Police Service.
Efforts to expedite the Binance executive’s extradition involve cooperation between various law enforcement agencies, including the EFCC, the Nigeria Police Force, and INTERPOL.
“As we had said before that Anjarwalla would be extradited, he has been arrested in Kenya, and he’ll be extradited to Nigeria this week,” added another source familiar with the situation.
According to the Punch, in a recent bulletin titled “EFCC Alert,” Ola Olukoyede, the chairman of EFCC, affirmed the agency’s commitment to collaborating with international partners to apprehend Anjarwalla and ensure justice is served.
“The takeover of the prosecution of Binance chiefs by the commission is no less a strong message in the direction of EFCC’s resolve to hedge in distortions and disruptions in the country’s forex market,” stated Olukoyede.
“Tax evasion, currency speculation, and money laundering to the tune of $35,400,000 are at the foundation of the Commission’s five counts against Binance Holdings Limited, Tigran Gambaryan, and Nadeem Anjarwalla,” he added.
Binance’s Effort To Resolve The Situation Amidst Upcoming CZ’s Sentence
Binance co-founder He Yi recently offered insights into former CEO Changpeng Zhao’s (CZ) legal predicament during an event in Dubai on April 19. Despite CZ’s forthcoming sentencing in the United States, he maintained an optimistic outlook.
CZ’s departure from Binance resulted from his plea deal, leading to the company’s significant forfeiture of $4.3 billion. While the potential for a sentence of up to 10 years looms, sentencing rumors suggest a more plausible term of 12 to 18 months, with the final verdict slated for April 30.
The ongoing conflict between Binance and Nigerian authorities has intensified, with legal proceedings against key executives like Tigran Gambaryan, who is facing trial for multiple crime allegations.
Challenges in the legal process have arisen, with Nigerian courts adjourning hearings due to procedural issues. However, efforts are underway to address these challenges and secure the release of detained executives. Binance CEO Richard Teng has reiterated the company’s commitment to cooperating with Nigerian authorities to resolve the situation, although specific details of these efforts remain undisclosed.
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