The detention of a top Binance executive, Tigran Gambaryan, in Nigeria has drawn global attention and concern. Richard Weber, the former Chief of Investigations for the United States Internal Revenue Service (IRS), has gone so far as to call Gambaryan a “hostage.”
Weber, an experienced law enforcement official, raised the alarm while speaking on the podcast “Illicit Edge’s Designated.” He expressed his dismay over the treatment of Gambaryan, who has now spent more than 200 days in Nigeria’s Kuje prison.
Arrest and Detention in Kuje Prison
Gambaryan, a senior executive at Binance, was detained by Nigerian authorities in February 2024 after being invited to Nigeria to help resolve compliance issues between Binance and the Nigerian government. His colleague, Nardeem Anjarwalla, managed to escape arrest by using a second passport, leaving Gambaryan behind.
The core of Nigeria’s case against Binance revolves around accusations of tax evasion and money laundering. However, since his detention, Gambaryan has not been formally charged, sparking international outrage.
During the podcast, Weber said, “Tigran is a hostage. He did nothing wrong. He is sitting in prison for a crime he did not commit.” Weber expressed his frustration, adding, “He’s been in prison for over 200 days—almost eight months—and no one knows what he really did wrong. I don’t even think the Nigerian government knows what he did wrong, and yet they are holding him there.”
Concerns About Prison Conditions
Weber did not hold back his criticism of the conditions in which Gambaryan is being held. He described Kuje prison as a facility that houses some of Nigeria’s most dangerous criminals, including terrorists, and questioned why a former law enforcement officer like Gambaryan should be detained there.
“It’s a prison that holds really bad people, including terrorists, and here we have a former law enforcement official and dedicated public servant who is working at a crypto company as a mid-level employee—who is trying to resolve a compliance issue—who then gets arrested and thrown into the same facility,” Weber lamented.
Gambaryan’s health has also been a matter of concern. Reports indicate that he has suffered from pneumonia twice and has battled malaria during his time in prison. Additionally, Gambaryan is suffering from long-term complications from herniated discs, which have worsened due to the poor conditions in detention. In a recent court appearance, a video showed him struggling to walk, prompting further alarm from his family and supporters.
Health Challenges and Nigerian Government’s Response
Gambaryan’s family, including his wife Yuki and their two young children in California, have expressed deep worry over his deteriorating health. His legal team has also raised the issue of his medical condition during court appearances, emphasizing that he needs urgent medical care.
However, Nigerian authorities appear unconvinced about the severity of Gambaryan’s health issues. Officials argue that his health challenges are exaggerated and not as dire as he claims. This back-and-forth has created a deadlock, with both sides entrenched in their positions.
Weber, in his podcast interview, urged the United States government to intervene, calling for Gambaryan’s immediate release so he could return to his family in California. “He should be released to his wife and his two young children. Tigran is a citizen of the United States, and his country should not stand by while he is unjustly imprisoned,” Weber said.
International Concerns and Tensions
Gambaryan’s detention comes amid increasing tensions between Nigeria and Binance, one of the world’s largest cryptocurrency exchanges. Nigeria has been investigating Binance for alleged violations, including tax evasion and money laundering, as part of a broader crackdown on the cryptocurrency industry. This move is in line with Nigeria’s recent attempts to regulate the fast-growing crypto sector, which the Central Bank of Nigeria banned in 2021, only for the Securities and Exchange Commission to create a legal framework for its operation shortly after.
The ongoing detention of Gambaryan is seen by some observers as a reflection of the wider struggle between global crypto firms and local regulators in developing economies. Nigeria, Africa’s largest economy, has witnessed an explosion in cryptocurrency usage, with many Nigerians turning to digital currencies as a hedge against inflation and economic instability.
However, regulatory authorities in the country have voiced concerns that the rise of crypto could encourage financial crimes such as money laundering, tax evasion, and terrorist financing. Binance, with its large user base in Nigeria, has been a focal point of this scrutiny.
Family’s Plea and Growing Pressure
As Gambaryan’s detention stretches into its eighth month, pressure continues to mount on both Nigerian and U.S. authorities to resolve the situation. His wife, Yuki, has made multiple public appeals, calling for her husband’s release. In a tearful statement, she said, “Our children ask about their father every day. I just want him to come home.”
U.S. officials have expressed concerns about Gambaryan’s case but have so far refrained from taking any formal action. The case has drawn attention not only because of its ties to a global cryptocurrency firm but also because Gambaryan is a former U.S. law enforcement officer who once played a key role in investigating financial crimes, including in the cryptocurrency sector.
Weber, who worked closely with Gambaryan during his time at the IRS, described him as a “dedicated public servant” and criticized his treatment in Nigeria. “This is a man who has spent his career fighting financial crime. He does not belong in a prison, and certainly not one with criminals and terrorists,” Weber said during the podcast.
