The Chief Executive of Binance Holding Limited, Richard Teng, and Management have been placed under house arrest by the House of Representatives Committee on Financial Crimes. This is due to their refusal to come before the committee and provide a defense for their suspected involvement in money laundering and terrorism funding.
Hon. Ginger Onwusibe, the committee’s chairman, issued the arrest warrant on Monday after the CEO and management once more neglected to show up for the meeting; instead, they sent Senator Ihengen, the business’s attorney.
In defense of himself, Ihengen said that the Federal Government had arrested two of the company’s top executives last week after they had traveled to the nation earlier to testify before the committee.
Nevertheless, the committee chairman rejected the justification and, by voice vote, mandated the CEO and management’s arrest.
THE WHISTLER, you may remember that on Friday, Representatives had called the CEO and Management of Binance to personally testify before the committee on Monday.
The Central Bank of Nigeria has alerted users to Binance, an online cryptocurrency trading platform, for possible involvement in money laundering and terrorism funding, among other activities.
