Binance Executive Arrested in Kenya After Escaping from Nigerian Custody

Nadeem Anjarwalla, a Binance executive who escaped from Nigerian custody in March, has been arrested in Kenya. The International Criminal Police Organisation (INTERPOL) is working to extradite Anjarwalla to Nigeria, where he faces charges of tax evasion and money laundering.

Anjarwalla, a British-Kenyan national, was detained in Nigeria in February along with Tigran Gambaryan, Binance’s Head of Financial Crime Compliance. The two executives were accused of tax evasion and money laundering, and were detained for 14 days without charges being brought. Anjarwalla escaped custody on March 22, using a concealed Kenyan passport.

Anjarwalla and Gambaryan were charged with tax evasion and money laundering, and their trial is ongoing. Gambaryan has pleaded not guilty to the charges, and his wife has launched a petition to have him released, claiming he is being “held as blackmail”.

Binance has stated that discussions between the exchange and Nigerian authorities are ongoing, and that Gambaryan has not violated Nigerian law. The exchange has also stated that Gambaryan has no decision-making power in the company.

The arrest of Nadeem Anjarwalla in Kenya is a significant development in the ongoing case against Binance executives in Nigeria. The extradition process is expected to be completed within the week, and Anjarwalla will face trial in Nigeria. The case highlights the increasing scrutiny of cryptocurrency exchanges by regulatory authorities, and the need for exchanges to comply with local laws and regulations.