Binance Executive in Trouble as EFCC Takes Over Probe, Partners with FBI, UK, Kenya

• The EFCC has intervened in the probe of Binance Holdings Limited and two of its embattled executives
• A reliable report has it that the anti-graft agency has also filed an application at the Federal High Court in Abuja against the firm
• Added to this, the commission is working with the FBI, the governments of UK and Kenya to arrest and extradite Nadeem Anjarwalla, he escapee executive

Abuja - The Economy and Financial Crimes Commission (EFCC) taken over from the Office of the National Security Adviser (ONSA) the case involving Binance Holdings Limited and two of its senior executives, Tigran Gambaryan, and Nadeem Anjarwalla.

Also, the EFCC has charged Gambaryan and Anjarwalla with $35,400,000 money laundering.

Even more, the commission, having detained Gambaryan, has obtained a court warrant to arrest and extradite the escapee Anjarwalla.

Read also

Breaking: Fresh twist as Binance executive sues NSA, EFCC

Punch reports that the anti-graft commission is working with the International Criminal Police Organisation, the United States’ Federal Bureau of Investigation, the United Kingdom of Great Britain and Northern Ireland, and the Kenyan government, to arrest and extradite Anjarwalla.

The EFCC also filed five-count charges bordering on money laundering against the firm and the embattled executives at the Federal High Court in Abuja on Thursday, March 28.

Listed in the application are the following charges:

• That the accused "carried on specialised business of other financial institution without valid licence and thereby committed an offence contrary to section 57(1) and (2) of the Banks and Other Financial, Institutions Act, 2020 and punishable under section 57(5) of the same Act"
• That the accused engaged in business of other financial institution (other than insurance, stock broking and pension fund management) without valid licence and thereby committed an offence contrary to and punishable under section 58(5) of the Banks and Other Financial Institutions Act, 2020"
• That the accused used its virtual asset services platform to unlawfully negotiate foreign exchange rates in Nigeria and you thereby committed an offence contrary to and punishable under section 29(1) (c) of the Foreign Exchange (Monitoring And Miscellaneous Provisions) Act."

Read also

Edo Governor’s Controversial Name Change of University Sparks Legal and Governance Concerns

Read more on Binance stories:

• “Withdraw Your Funds”: Binance Announces Discontinuation of Naira Services, Shares Money to Traders
• 'Why Nigeria Needs to Clamp Down on Binance', Presidency Speaks Out
• “Potential Imprisonment for Defaulting”: FG Charges Binance for Tax Evasion, Others

“Anjarwalla No Longer in Nigeria”: Binance Reacts to Executive’s Escape from Custody

Meanwhile, Binance had confirmed that its executive, Nadeem Anjarwalla, is no longer in Nigerian custody.

Anjarwalla is an alleged suspect in the ongoing probe into the activities of Binance in Nigeria.

Source: Legit.ng