NewsCrypto Boss in Ksh 4.6B Fraud Case Traced to...

Crypto Boss in Ksh 4.6B Fraud Case Traced to Kenya

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The Nigerian Government has officially confirmed that Nadeem Anjarwalla, a Binance Executive who fled custody in the country, has been traced to Kenya.

A joint operation involving the Economic and Financial Crimes Commission, the International Criminal Police, the Nigeria Police Force, and the Kenyan Police Service was undertaken to locate Anjarwalla.

The executive had been detained in Nigeria on suspicion of involvement in the alleged embezzlement of Ksh4.6 billion ($35,400,000).

With the confirmation of his whereabouts in Kenya, the collaborating teams are currently working together to expedite his extradition back to Nigeria to answer the charges levelled against him.

Wilson Wahome- Research and Consulting Lead, Lawyers Hub Kenya, Robert Muoka- Chairman Blockchain Sub-Committee, Law Society of Kenya, Nadeem Anjarwalla, the Binance Director, East and West Africa, Duncan Muchangi - Principal, Unicorn Growth Capital during a meeting.

Wilson Wahome- Research and Consulting Lead, Lawyers Hub Kenya, Robert Muoka- Chairman Blockchain Sub-Committee, Law Society of Kenya, Nadeem Anjarwalla, the Binance Director, East and West Africa, Duncan Muchangi – Principal, Unicorn Growth Capital during a meeting.
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KBC

“We know where he is. He is in Kenya, and we’re working with the authorities to bring him back to Nigeria”, a source told a Nigerian news outlet. 

According to the Economic and Financial Crimes Commission(EFCC) chairman Ola Olukuyede, the Binance boss will answer five counts. 

The charges include tax evasion and currency speculation. He is further accused of laundering money against Binance Holdings Limited’s executives. 

The Nigerian government has in recent past launched a crackdown on Binance dealing, for claims that it plays a role in manipulating the country’s Foreign exchange market.

The executive escaped custody in Nigeria on March 22, where he had been detained. The Office of the National Security Adviser (NSA) confirmed the incident, assuring that relevant authorities were working together to trace him.

The British-Nigerian citizen who works as Binance Africa Regional Manager escaped while under a 14-day remand. 

He was scheduled to appear before the court to answer charges related to finance operations in Nigeria on April 4, 2024. 

Binance previously pleaded guilty to money laundering charges by the US government and agreed to pay Ksh559 billion($4.3 billion) to settle the criminal charges.

Once apprehended, the executive will be transferred back to Nigeria. 

Nigerian police officers arresting a suspect in Abuja in December 2021.

Nigerian police officers arresting a suspect in Abuja in December 2021.
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Source: kENYANS.CO.KE

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