Binance CEO Richard Teng stated that Tigran Gambaryan, the company's head of financial crime compliance who has been detained in Nigeria since February 26, is being denied appropriate medical care, legal counsel, and consular access. Teng shared his statement in an August 27 post on Binance's website.
"Despite his condition, the Nigerian government has denied him adequate medical care, including basic needs such as access to a wheelchair," said Teng, according to Binance. "Furthermore, the authorities are refusing to provide him access to his legal counsel, despite his trial commencing on September 2, which, we have been informed, is unconstitutional in Nigeria. A court has demanded the government release Tigran's medical records, but after several months, they have still not complied. This week, Tigran was denied access to his U.S. consulate representative."
According to CoinDesk, Gambaryan, a former U.S. federal agent, was invited by Nigerian government officials to travel to Abuja in February to participate in compliance discussions. Nigerian authorities accused Binance of devaluing the naira and placed Gambaryan under house arrest. He was later charged with financial crimes and transferred to Kuje prison, where his health has declined. He contracted malaria in May and collapsed in court; in June, he was pushed into a courtroom in a wheelchair. His wife says he is at risk of "permanent damage" unless he receives proper medical treatment due to a herniated disc in his back. Prison officials have not complied with a court order to release Gambaryan's medical records.
Binance CEO Richard Teng (left) and Binance Head of Financial Crime Compliance Tigran Gambaryan (right)
| Binance, LinkedIn/tigran-gambaryan
Teng described Gambaryan's detention as "unjust" and said his "situation is now more dire than ever." He appealed to the Nigerian government to release Gambaryan on "humanitarian grounds" so he can receive appropriate medical treatment in the U.S. Teng also urged the U.S. government to "exert its political will and muscle" to secure Gambaryan's release, stating that the U.S. government has the grounds and authority to designate Gambaryan as an American citizen "unlawfully detained" abroad. "He is a proud American who should not be subject to such unjust treatment," Teng said.
Teng argued that the Nigerian government is justifying Gambaryan's imprisonment through its "baseless" allegations against Binance. He refuted claims that Binance caused the devaluation of the naira, attributing it instead to the government's decision to de-peg the naira from the U.S. dollar. Even if these assertions were true, Teng stated there is "no need to imprison an innocent employee to answer for any allegations against Binance." He noted that Binance has resolved issues with various government agencies around the world, including those in the U.S., India, and Brazil, "in a reasonable, collaborative, and amicable manner without threat or harm inflicted on our employees."
Gambaryan joined Binance in 2021 as vice president of Global Intelligence and Investigations. Prior to this role, he spent ten years as a special agent with the Internal Revenue Service—Criminal Investigation (IRS-CI) Cyber Crimes Unit in Washington, D.C., leading several multi-billion-dollar cyber investigations including those into AlphaBay and the Mt. Gox hack.
Teng joined Binance in August 2021 after serving as CEO of the Financial Services Regulatory Authority at Abu Dhabi Global Market (ADGM), chief regulatory officer of the Singapore Exchange (SGX), and director of corporate finance at the Monetary Authority of Singapore.