Binance Holdings is alleging that the company was asked for a large payment in Nigeria to make problems there “go away,”.
Details
Chief Executive Officer Richard Teng made the claim in a blog, detailing how the Binance tried to engage with Nigerian authorities, including a Jan. 8 meeting in Abuja, the capital, where it was confronted with criminal allegations.
“As our employees were leaving the venue, they were approached by unknown persons who suggested to them to make a payment in settlement of the allegations,” Teng wrote.
Later that day, Binance’s local lawyer was “presented with a demand for a significant payment in cryptocurrency to be paid in secret within 48 hours to make these issues go away,” Teng wrote.
The amount in question was $150 million in crypto, the New York Times reported separately, citing people it didn’t identify.
Zoom Out
Nigeria, which blames crypto speculators for some of the naira’s steep recent losses against the US dollar, disputed this account.
In Nigeria, the confrontation led to the arrest of two of its staff after they returned in late February for further talks.
Where We Are
One of Binance’s execs Nadeem Anjarwalla fled, but Tigran Gambaryan has been jailed at the Kuje correctional center in Abuja and will go on trial this month to face charges of tax evasion, currency speculation and money laundering.
Teng said Gambaryan and his colleague Nadeem Anjarwalla, who later escaped from custody, were given repeated assurances they would be granted safe passage.
Source: Bloomberg
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