EFCC Set to Arraign Binance and Executives Over $35M Money Laundering Allegations

The Economic and Financial Crimes Commission (EFCC) is gearing up to arraign Binance Holdings Limited and two of its senior executives, Tigran Gambaryan and Nadeem Anjarwalla, in connection with an alleged $35.4 million money laundering case. Anjarwalla, who recently fled custody, remains at large, while Gambaryan is currently detained by the EFCC.

Impeccable sources within the anti-graft agency revealed that Anjarwalla will be arraigned in absentia alongside Binance and Gambaryan. The EFCC, having taken over the case from the Office of the National Security Adviser, has filed five counts against the cryptocurrency firm and its executives, detailing various alleged violations including engaging in financial activities without valid licenses and unlawful negotiation of foreign exchange rates.

Efforts to bring Anjarwalla to justice extend beyond Nigeria’s borders, with the EFCC collaborating with international law enforcement agencies and governments, including INTERPOL, the FBI, the UK government, and Kenya, where Anjarwalla holds nationality.

The escape of Anjarwalla has sparked widespread concern, particularly regarding the circumstances of his flight. Preliminary investigations suggest he fled using a smuggled passport, shocking security agencies and prompting a swift response from Nigerian authorities, who have arrested personnel responsible for his custody.

The federal government, intensifying its efforts, has issued an international arrest warrant for Anjarwalla, urging the public and international community to provide any information that could aid in his apprehension.

This development follows earlier actions by Nigerian authorities, including the detention of Binance executives upon their arrival in the country, amid a ban on the company’s website. The EFCC’s request for data on Binance’s top users and transaction history further underscores the gravity of the investigation.


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