The Company Man: Binance exec detained in Nigeria breaks his silence
Feb 11, 2025
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Nick Fountain, the insightful host of Planet Money, joins Dina Temple-Raston for a gripping conversation with Tigran Gambaryan, a former IRS investigator turned Binance executive. Tigran recounts his harrowing eight-month detention in Nigeria, revealing shocking conditions in prison and the psychological toll of isolation. He discusses the complexities of navigating crypto regulations and the U.S. diplomatic efforts that led to his release. This story sheds light on the personal and political challenges at the intersection of cryptocurrency and international relations.
Tigran Gambaryan's wrongful detention in Nigeria underscores the tension between government regulation and the burgeoning cryptocurrency sector.
His harrowing experience illustrates the precarious balance between state power and individual rights in a complex legal landscape.
Deep dives
Tigran Gamberian's Detention in Nigeria
Tigran Gamberian, a former U.S. federal agent, was detained in Nigeria while working as the global head of compliance and investigations for Binance. He was arrested during a meeting with Nigerian officials who accused Binance of contributing to the country's economic decline and demanded taxes and user data. Despite not being top executives, Gamberian and his colleague Nadim Anjawala were treated as collateral and faced increasing pressure from Nigerian authorities. Their detention marked the beginning of a tumultuous saga that highlighted the struggles between government regulation and the rapidly growing cryptocurrency sector.
The Haunting Video and Legal Charges
While in Nigerian custody, Tigran recorded a desperate appeal for help in a haunting video that circulated online, where he claimed innocence and called for assistance. Shortly after, Nigerian authorities charged him with tax evasion and complicity in laundering millions, despite lacking substantial evidence against him, with a business card being the primary piece presented in court. The conditions of his detention worsened as he transitioned from a comfortable guest house to the notorious prison, Kuja, where he suffered from deteriorating health issues, including malaria and pneumonia. These challenges led to a public outcry that eventually spurred action from U.S. officials to address his wrongful detention.
Diplomatic Efforts and Release
The U.S. government intensified diplomatic efforts to secure Tigran's release, pressing Nigerian officials across various meetings to address his case. The situation pivoted when it became evident that Nigeria's legal case lacked substantial evidence compared to concurrent U.S. legal issues surrounding Binance, leading to heightened scrutiny of his detention. Eventually, facing international pressure and deteriorating health conditions, Nigerian authorities announced his release on humanitarian grounds, allowing him to return to the U.S. after eight months in custody. Gamberian's experiences not only revealed the complexities of cryptocurrency regulation but also illustrated the precarious balance between state power and individual rights in a rapidly evolving financial landscape.
Former IRS investigator Tigran Gambaryan went to Nigeria on a quick trip to sell Nigerian officials on the utility of cryptocurrencies. He ended up detained there for eight months. On today’s show, an exclusive interview with Tigran about his detention, and how he got out.