Key Insights
- U.S. Representatives McCormick and Hill introduce a resolution urging the government to declare Binance executive Tigran Gambaryan’s detention in Nigeria a hostage situation.
- Binance is scheduled to face tax evasion charges in a Nigerian court on October 11, accused of failing to register with the country’s Federal Inland Revenue Service for tax purposes.
WASHINGTON (MarketsXplora) – Two U.S. congressmen have escalated efforts to secure the release of Binance executive Tigran Gambaryan from Nigerian custody, introducing a resolution urging the government to declare his detention a hostage situation.
Representatives Rich McCormick and French Hill submitted the resolution to the House Committee on Foreign Affairs on Wednesday, calling for immediate action on behalf of Gambaryan, a U.S. citizen whose health is reportedly deteriorating in Nigeria’s Kuje Prison.
The move comes as MarketsXplora reports Binance is scheduled to face Nigerian tax authorities in court on October 11.
“This detention is a clear violation of his rights and a grave injustice,” McCormick said in a statement on Thursday, referring to Gambaryan’s imprisonment.
The resolution seeks to have the U.S. government classify Gambaryan as “a U.S. citizen wrongfully detained by a foreign government.” It also highlights the urgency of resolving his case before mid-July, after which court recesses could prolong his detention until September.
Gambaryan, Binance’s head of financial crime compliance and a former U.S. Internal Revenue Service agent, was detained alongside colleague Nadeem Anjarwalla in February. Nigerian authorities charged them and Binance with alleged money laundering and tax violations. Anjarwalla escaped custody in March.
While Nigeria’s tax authorities dropped some charges last month, Binance still faces accusations of failing to register with Nigeria’s Federal Inland Revenue Service for tax purposes, among other counts.
The congressmen emphasized Gambaryan’s decade-long service with the IRS, during which he reportedly seized over $4 billion in illicit funds for the U.S. government.
Hill, who visited Gambaryan in prison last month, expressed concern over the executive’s health.
“I am proud to join my friend and Mr. Gambaryan’s Congressman, Rep. Rich McCormick, in leading this resolution and sending a signal to the Nigerian government that he must be immediately granted a release,” Hill stated.
This resolution follows a June letter to the White House, signed by 16 members of Congress, urging swift action.
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