Binance Executive Escapes Detention Amid Tax Evasion Case

Nigerian authorities face questions over escape and use of fake passport

A Binance executive, Nadeem Anjarwalla, reportedly escaped detention in Nigeria using a fake passport, raising concerns about security protocols. Anjarwalla and his colleagues were initially detained in Abuja but managed to evade custody, with Anjarwalla allegedly fleeing the country on a Kenyan passport.

The incident occurred after Anjarwalla was taken to a mosque for Friday Ramadan prayers, from where he reportedly fled. Despite his British passport, which he used to enter Nigeria, remaining in Nigerian custody, Anjarwalla was able to board an international flight on a Middle East airline.

Authorities are investigating how Anjarwalla obtained the fake passport and how he was able to leave the country undetected. The group, including Tigran Gambaryan, a U.S. citizen in charge of financial crime compliance at Binance, was detained upon arrival in Nigeria on Feb. 26, following a criminal complaint.

The court granted the Economic and Financial Crimes Commission (EFCC) permission to detain the two individuals for 14 days. However, after Binance refused to comply with the court's order to provide data on Nigerian traders using its platform, the detention was extended by another 14 days.

The Nigerian government has been cracking down on individuals and organizations involved in terrorist financing and money laundering through the Binance crypto exchange. Reports suggest that Binance was used to launder nearly $21 billion, prompting strict measures from the Nigerian authorities.

Cointelegraph reached out to Binance for comment but has not received a response as of yet. The incident highlights the challenges faced by regulatory authorities in combating financial crimes in the crypto space.