Binance executive Nadeem Anjarwalla, who fled Nigerian custody, has been found and faces extradition or deportation from Kenya to Nigeria via Interpol this week. Nigeria’s Federal High Court has postponed the Binance tax evasion trial to May 17. Another Binance executive, Tigran Gambaryan, who was previously detained together with him, is still in custody awaiting trial.
They have serious financial charges that include tax evasion, currency speculation, and money laundering amounting to $35.4 million. The arrest marks a significant development in the ongoing investigation and follows a coordinated effort between Kenyan and international law enforcement agencies.
According to a local media report, the Kenya Police Service has detained Nadeem Anjarwalla, who fled Nigeria, and INTERPOL is set to extradite him to Nigeria within the week. Government sources, speaking anonymously, confirmed the arrest and imminent extradition. Anjarwalla’s capture in Kenya follows efforts to locate him after he escapes from custody in Nigeria. The Economic and Financial Crimes Commission (EFCC), along with INTERPOL, the Nigeria Police Force, and the Kenyan Police Service, are intensifying discussions to expedite Anjarwalla’s extradition. Anjarwalla had gone into hiding upon arriving in Kenya after his cover was exposed.
Anjarwalla’s charges by Nigeria’s EFCC show how serious the allegations are. Legal action is ongoing to make sure justice is done and people involved in fraud face the consequences.
The collaboration between Nigerian and Kenyan authorities, along with international cooperation in this case, shows the importance of joint action in fighting transnational financial crimes. The arrest of Anjarwalla and the progress in legal proceedings send a strong message about the commitment to uphold the rule of law and maintain the integrity of the global financial system.
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Nigeria’s Federal Inland Revenue Service (FIRS) accuses Anjarwalla and another Binance executive of failing to register the crypto exchange for tax purposes and aiding tax evasion. Both Binance and the executives deny the allegations. However, Anjarwalla’s potential arrest and extradition may face legal challenges, with the process complicated by extradition laws and international collaboration. In Kenya, arrest warrants from Nigerian courts or Interpol red notices are required for extradition, which involves court consent and could take months or years, as seen in previous cases like that of Chris Okemo and Samuel Gichuru.
So far, the Binance exchange itself has been entirely unsuccessful at returning either executive to their home countries, despite explaining that other arrested colleague Tigran Gambaryan, in particular, has “no decision-making power”.
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