In a year full of cryptocurrency dramas, one of the most surprising was that of Tigran Gambaryan, a former IRS agent and Binance executive. detained For eight months in Nigeria on charges of money laundering.

With daring escapes, courtroom collapses, and congressional decisions, the unfolding saga was like a Hollywood movie – but with very real consequences for those involved. Here's how the story unfolded.

Gambarian, a US citizen. Join Binance as Vice President of Global Intelligence and Investigations at the cryptocurrency exchange in September 2021. He brings with him a wealth of experience from a decade as a former special agent in the IRS Cybercrime Unit, where he investigated cases involving national security, terrorism financing, and cybercrime. Child Sexual Abuse Material (CSAM), as well as taking on some of the largest investigations in the cryptocurrency space to that point, such as the Silk Road corruption investigations and the Mt.Gox hack.

At the time, Gambarian said, Binance would “work closely with our colleagues to identify criminals and bring them to justice.” He could not have imagined that just two years later, he himself would be in prison, facing trial on charges including currency manipulation and facilitating the transfer of illicit funds.

In February 2024, Gambarian and his colleague Nadeem Angarwala, Binance’s regional head for Africa, arrived in Nigeria to meet with government officials.

The country's government faces a Currency crisisHe directed his anger at cryptocurrencies, Blame Cryptocurrency trading platforms for currency manipulation.

As part of an ongoing investigation into cryptocurrency exchanges, Nigeria has done so student Binance will provide it with information about its top 100 users in the country, along with their transaction history over the past six months.

Binance executives were aware that the project was risky. Weeks earlier, Gambarian and his colleagues had left the country in a hurry. Worried That they may be detained by local authorities after a local official told them they had to “settle” alleged tax violations or they “may not leave Nigeria.”

This time, Gambarian assured his wife Yuki that he would "be in and out."

"You are our guest now."

But on this occasion, his previous fears were realized. On February 28, it was Gambaryan and Angarwala detained On the orders of Nigeria's anti-corruption agency, EFCC. Although no charges were initially brought against them, a court ordered Gambarian and Angarwala to be detained for 14 days under prison conditions. Court orderwhich was later extended.

They were detained in a secure compound under armed guard, where a Nigerian official reportedly told them: “You are our guests now.”

While the executives' passports were confiscated, they were allowed to keep their mobile phones.

A month later, in an exciting development, Angarwala, a British Kenyan, He escaped from custody During a visit to a local mosque, he fled the country using a hidden Kenyan passport – having only surrendered his British passport to the authorities.

After Angarwala's escape, things went from bad to worse for his fellow detainee. On the day Angarwala fled Nigeria, the country's tax agency, the Federal Inland Revenue Service, announced... Charged Binance, Gambaryan and Anjarwalla with tax evasion. Days later, the exchange, along with Gambarian and Angarwala, was accused of money laundering amounting to $35 million by the exchange. EFCC- suggesting that Gambarian may face charges on behalf of the exchange.

"blackmail"

Gambaryan was then transferred to the notorious Kuje prison, which he had become accustomed to house Suspected members of the Boko Haram terrorist group; At that time she was Gambarian's wife accused Nigerian authorities detain CEO as “blackmailer,” while Binance issues warrant statement Saying that he does not have decision-making authority in the company.

Due to Gambarian's status as a US citizen, W The person who had it 'I've been a cop my whole life' It is perhaps surprising that the US government was initially so slow about his plight.

in spite of The presence of a congressional delegation in Nigeria To discuss democracy and freedom At the time of Gambaryan's arrest, neither they nor the State Department initially raised the issue with the Nigerian government - the delegation claimed to have left Nigeria before receiving communication from Gambaryan's family.

In fact, several months passed before US officials noticed Gambarian's condition, as his health had deteriorated to the point that he was seriously ill. She broke down in court On the second day of his trial

By early June, efforts to secure Gambarian's release intensified. His local representative, Rich McCormick (R-GA), joined House Foreign Affairs Committee Chairman Michael McCaul (R-TX) and 14 of their Republican colleagues in the House in sending a message. letter For President Biden. She declared that Gambarian had been “unlawfully detained” by the Nigerian government, and urged the president to ensure his release.

Days later, more than 100 former federal prosecutors and federal agents were arrested Secretary of State Tony Blinken wroteShe called on the United States government to "intensify its efforts" in Gambarian's case, and accused Nigeria of depriving him of adequate medical care. While the Binance CEO was grappling malaria and pneumoniaa bipartisan delegation of US lawmakers He visited him In prison, where Rep. French Hill (R-AR) decried the “horrific” conditions in which he was being held.

By July, Gambarian's condition had deteriorated to the point where he became ill Wheelchair required In court, while Rep. McCormick and Rep. Hale A accuracy To Congress Contact For his immediate release - and accusing the Nigerian government of trying to blackmail his employer.

As the months passed, Yuki Gambarian recounted her struggle to explain to her children where their father was. "My son saw a plane in the sky and said, 'Mom, look, there's a plane. Is dad on the plane?' specific Podcast.

McCormick accused The Biden administration for not “doing enough to bring him home,” Although The “tremendous amount of influence” she had over Nigeria.

The American government, it is He said DecryptionHe was "not paying attention because there's a lot of stuff going on this election cycle." He also attributed the apathy surrounding Gambarian's case to crypto-related "laziness" on the part of the US government, arguing that the industry "is still something that is very misunderstood."

He also suggested that the Biden administration was "hypocritical" in failing to declare Gambaryan "a citizen wrongfully detained by a foreign government," in contrast to its efforts to secure the WNBA star's release. Brittney Greiner From Russian custody.

“We went to bat for a young, healthy individual, and we're not going to bat for someone in poor health?” McCormick asked after seeing Gambarian Struggling to walk In footage filmed in court.

It took until late October before Nigeria produced a surprise performance Face times, Charges dropped Against Gambarian and allow his release. Later that day, the US State Department Announce It has joined forces with Nigeria to launch a bilateral contact group on illicit finance and cryptocurrencies, noting a behind-the-scenes agreement to secure Gambarian's release.

Whatever the bargaining that went on behind the scenes, Gambarian was on his way home, ending the "living nightmare" he and his family had lived through.

But even as Binance CEO Richard Teng praised the CEO's "tremendous power" and looked forward to "playing a constructive role" in Nigeria's blockchain economy, Nigerian officials said they would continue to pursue charges against the exchange. The underlying tensions that led to Gambaryan's eight-month detention appear to remain.