Nigerian prison officials have reportedly refused to release Tigran Gambaryan’s medical records. A High Court judge has ordered Kuje Detention Centre prison officials to present Gambaryan’s legal representatives with the records by July 5. Yuki Gambaryan, the wife of the Binance employee, has urged Nigerian authorities to drop charges against her husband. Gambaryan’s Health Deteriorates […]
Bitcoin News
Nigeria Rejects Claims Jailed Binance Executive Denied Quality Healthcare
A Nigerian government official has rejected claims that the jailed Binance executive is being denied access to quality healthcare. In an apparent reference to the U.S. calls for Tigran Gambaryan’s release, the official stated that only the court, not the Nigerian government, can authorize such action. Tigran Gambayran’s Detention Court Sanctioned The Nigerian government has […]
Bitcoin News
US Lawmaker Urges Nigerian Government to Grant Humanitarian Release for Jailed Binance Employee
Two U.S. lawmakers, French Hill and Chrissy Houlahan, have added their voices to calls for the release of jailed Binance executive Tigran Gambaryan. The lawmakers made this call shortly after visiting Gambaryan at Nigeria’s notorious Kuje Prison. Hill believes that Gambaryan is being wrongfully detained on charges related to money laundering. Prison Officials Accused of […]
Bitcoin News
US Lawmakers: Jailed Binance Executive, US Citizen, Wrongfully Detained by Nigeria
A group of U.S. lawmakers led by Micheal McCaul, the House Foreign Affairs Committee chairman, has accused the Nigerian government of wrongfully detaining Tigran Gambaryan. The lawmakers have asked the Biden Administration to transfer Gambaryan’s case to the Office of Special Presidential Envoy for Hostage of Affairs. Nigeria Using Gambaryan’s Detention to ‘Extort His Employer’ […]
Bitcoin News
Nigerian Prison Agency Held Responsible for Court Absence of Jailed Binance Executive
The Nigerian Correctional Service recently faced accusations of failing to bring Tigran Gambaryan, a jailed Binance executive, to a court hearing on May 22. A lawyer representing the Nigerian revenue collection agency subsequently requested the court to adjourn proceedings. This would allow him to investigate the reasons behind Gambaryan’s absence. Gambaryan Key to Nigeria’s Tax […]
Bitcoin News
Jailed Mastermind of South African Bitcoin Scam Reportedly Getting Preferential Treatment in Brazilian Prison
Johann Steynberg, the imprisoned CEO of Mirror Trading International, a South African Bitcoin scam entity, is allegedly receiving preferential treatment in a Brazilian prison. The General Directorate of Penitentiary Administration (DGAP) has confirmed receiving a complaint about Steynberg’s access to a computer and the internet from inside the office of a Brazilian prison warden.
Steynberg’s Meetings With Lawyer and Wife Held in Prison Warden’s Office
Johann Styenberg, the jailed mastermind of the online bitcoin investment scam Mirror Trading International (MTI), has reportedly accessed a computer and the internet while detained in a Brazilian prison. According to a local report, Steynberg has allegedly used the computer to access the internet from inside the Goiás prison warden’s office.
In addition to using the warden’s office to access the internet, the MTI mastermind is also accused of rendezvousing with his “wife” and lawyer in this office.
As previously reported by Bitcoin.com News, Steynberg has been in detention since his arrest in December 2021 for using forged identity documents. A Brazilian court has since sentenced the CEO of the collapsed bitcoin scam entity to three and a half years in prison for the crime. However, Steynberg, who faces extradition to either the U.S. or South Africa, has appealed the ruling.
General Directorate of Penitentiary Administration Receives Complaint
The fresh allegations against Steynberg, who fled South Africa in late 2020, were reportedly made by Maxsuel Miranda das Neves, the president of the Union of Servers of the Penal Execution System (SINSEP-GO) in the State of Goiás. In a video shared via Instagram, Miranda das Neves said he has since asked the director general of the prison to investigate the matter.
The SINSEP leader said he plans to raise this matter with the FBI, Interpol, the U.S. Embassy, and the Brazilian judge who is handling Steynberg’s fake documents case.
A report by Portal da Bitcoin has stated that the General Directorate of Penitentiary Administration (DGAP) has confirmed receiving Miranda das Neves’ complaint.
“The Criminal Police has reaffirmed that the fact is being investigated seriously and with commitment to the legislation. At the end of the investigation, the result will be announced. Finally, DGAP reiterates its belief in the serious and honest work of the employees of this institution, who have done a lot for public security in the State of Goiás,” the DGAP reportedly said.
Register your email here to get a weekly update on African news sent to your inbox:
What are your thoughts on this story? Let us know what you think in the comments section below.
Report: Spanish Police Arrest Man Accused of Conspiring With Jailed Ethereum Developer to Evade US Sanctions
Spanish law enforcement said on Dec. 1 it arrested a man accused by the U.S. of conspiring with Ethereum developer Virgil Griffith to help North Korea evade sanctions. A Spanish judge released the man who has since denied the allegations.
Cao de Benos Released Without Conditions
The Spanish police announced on Dec. 1 that it had arrested a man accused by the U.S. Department of Justice (DOJ) of contracting with jailed Ethereum developer Virgil Griffith to help North Korea evade sanctions. Alejandro Cao de Benos, who used a false identity, was caught in Barcelona while preparing to leave for Madrid.
According to a Reuters report, the DOJ has previously accused Cao de Benos of asking Griffith to use his expertise to assist North Korea in busting U.S. sanctions. Griffith is now serving a more than 5-year sentence for his supposed role in the conspiracy.
Following his arrest, Cao de Benos, who founded the Korea Friendship Association, appeared before a Spanish judge who has since released him without conditions. After his release, Cao de Benos immediately pleaded his innocence in a post on X (formerly Twitter). He added that there would be no extradition.
“There is no extradition. The US accusation, besides being false, does not exist in Spain,” Cao de Benos said on X.
However, according to an unnamed Spanish judicial source, the U.S. now has to formalize the process to have Cao de Benos extradited. If convicted, Cao de Benos faces up to 20 years in prison.
What are your thoughts on this story? Let us know what you think in the comments section below.
Prosecutors Want Sam Bankman-Fried Jailed Ahead of Trial
U.S. prosecutors have asked a federal judge to put crypto exchange FTX founder Sam Bankman-Fried in jail over alleged witness tampering before his trial starts in October. While requiring the prosecution to formalize the request and giving the defense enough time to make its case, the judge issued a temporary gag order restricting their public comments.
Prosecutors Seek Sam Bankman-Fried’s Detention Over Witness-Tampering Allegations
During a hearing on Wednesday, prosecutors in the case against Sam Bankman-Fried (SBF), founder and former chief executive of the failed digital asset exchange FTX, asked U.S. District Court Judge Lewis Kaplan to send the crypto entrepreneur to jail.
SBF has been living under house arrest in his parents’ home in Palo Alto, California since December 2022 when he was released on a 0 million bond. His trial on criminal charges linked to the collapse of the crypto trading platform is scheduled to begin in October.
The prosecution is seeking modifications to Bankman-Fried’s bail agreement following the publication of an article in the New York Times about Caroline Ellison, former CEO of the Alameda Research hedge fund, also founded by Bankman-Fried, NPR and CNN reported.
In an interview with the newspaper, SBF showed some of the “private writings” of Ellison, who is also his former girlfriend. This, according to the prosecutors, amounted to witness tampering. Earlier this year, Ellison pleaded guilty to fraud charges and is expected to testify against him.
The Bahamas-headquartered FTX, which was one of the largest cryptocurrency exchanges, filed for bankruptcy protection in the U.S. on Nov. 11. About a month later, Bankman-Fried was arrested in the Bahamian capital, Nassau, and extradited to the United States.
U.S. authorities accuse him of fraud and misusing customer funds, including to finance property purchases and increase trading through Alameda. Unlike Ellison and former FTX executives, SBF pleaded not guilty.
On Wednesday, Judge Kaplan said he was accepting the prosecution’s request but wants to see it in writing by Friday. Bankman-Fried’s lead attorney, Mark Cohen, complained the defense was notified about it “one minute before court.” SBF’s lawyers are expected to make their case against it by Aug. 1.
Kaplan imposed a temporary gag order while he considers the government’s request to jail Sam Bankman-Fried who has frequently communicated with the public and the media since his arrest. According to U.S. authorities, he has had over 1,000 phone calls with journalists including 100 calls with the reporter who wrote the New York Times piece.
Do you think the federal judge will grant the prosecution’s request to send SBF to jail ahead of his trial? Tell us in the comments section below.
Report: French Crypto Trader Jailed for 18 Months for Buying a Ferrari With Bitcoin
A French crypto trader, Thomas Clausi, is currently jailed in Morocco where he was convicted of the crime of purchasing a Ferrari using bitcoin. Clausi’s arrest and subsequent jailing came after a woman, who sold him a Ferrari for 0,000 in April 2021, filed a complaint against the crypto trader when the price of the crypto asset had dropped to just over ,000.
Crypto Trader Ordered to Pay Fine of .7 Million
A 21-year-old Frenchman and crypto trader, Thomas Clausi, is currently serving a jail term in Morocco for allegedly buying a supercar worth 0,000 with bitcoin, a report has said. In addition to slapping Clausi with an 18-month jail term, the Moroccan court also ordered the crypto trader to pay a fine of over .7 million (€3.4 million).
According to a report by Gararin News, trouble for the Frenchman began when a woman who sold him a Ferrari for nearly 0,000 filed a fraud case against him. Although Clausi is said to have paid the full amount in April 2021 using BTC, the unnamed woman only filed her complaint in July when the price had dropped. As shown by the crypto asset’s data, during this period, the value of one BTC fell from more than ,000 seen in mid-April to just over ,500 by July 17, 2021.
Following the filing of the complaint, authorities in Morocco — where crypto trading is outlawed — are said to have opened an investigation. By October of that year, Clausi was convicted of the crimes of fraud and the “payment with foreign currency on Moroccan territory.” Although the price of BTC did rally to over ,000 in December, Moroccan authorities were unmoved and still had the Frenchman thrown into prison.
Although Clausi is only left with a few months before he finishes the sentence, his lawyers are reportedly still trying to secure his early release. For instance, in one hearing where they were seeking to have his sentence reduced, the lawyers told the court that Clausi had in the past bought expensive Swiss watches using crypto and that the price of BTC had similarly surged afterwards.
However, instead of reducing the sentence, the Moroccan court still ordered Clausi to reimburse the seller with an equivalent of ,200 in local currency.
What are your thoughts on this story? Let us know what you think in the comments section below.
Held Accountable: Russia Wants Bitcoin Investors Jailed For Non-Compliance
One of the biggest impacts awaiting to hit Bitcoin and the rest of the cryptocurrency space is the firm hand of regulation. It is already beginning, starting with Russia’s finance ministry seeking to put holders in prison for non-compliance when it comes to disclosing cryptocurrency valuation accruals.
Here’s what this new proposal says, and how this could start a butterfly effect across the globe where cryptocurrencies are made a target.
How Much Bitcoin Do You Hold? Not Telling The Russian Ministry Of Finance Is Punishable By Jail
Cryptocurrency investors, before buying their first Bitcoin or altcoin, are provided with a strict set of rules to follow from old-timers in the industry that have seen a thing or two in their time.
This advice includes never investing more than you’re comfortable losing in terms of capital, relying on two-factor authentication, and to never disclose how much crypto you hold. Unless the Russian government demands you to, that is.
According to new rules put forth by the Russian Ministry of Finance, Bitcoin holders specifically are being targeted if they hold more than a certain amount of the cryptocurrency, valued in Russian rubles.
Russian citizens with a wallet address and transaction history that shows a balance of 100,000 rubles or more, must disclose this balance to the government. This translates to roughly ,300 USD and 0.12 BTC.
Related Reading | The Most Common Bitcoin Scams And How To Avoid Them
Those that have a wallet or show transactions that lead to a balance that has accrued by 1,000,000 rubles or more, and don’t disclose this information, will face jail time. The accrual can be based on the asset’s value increasing, or by having received a sum of cryptocurrency valued at 1,000,000 rubles or more.
Failure to provide this information could result in up to three years of imprisonment.
The rules are part of a new law passed by Russian President Putin, that go into effect come January 2021. Starting in the following tax year, Russian citizens will need to report any Bitcoin holdings above these levels, or risk fallout with the law.
BTCUSD Estimated Price Necessary For Possible Jailtime | Source: TradingView
Why This Sets A Dangerous Precedent For Crypto Globally
Clearly, failure to disclose is a bad thing and could lead to legal trouble, or possible time in prison. But it also sets a dangerous precedent that could have a ripple effect all throughout the crypto industry globally.
All it takes is someone to cast the first stone, in this case, making it punishable by jail time to fail to disclose cryptocurrency holdings.
Related Reading | United States Regulators Begin Crack Down on Crypto and Bitcoin Crime
Recently, in the United States, the IRS began requiring uses to check a box to disclose if they owned or held what they call virtual currencies throughout the year. Those virtual currencies include Bitcoin and Ethereum, and other cryptocurrencies.
Failure to report taxes properly is already illegal in the United States, so in a sense, not disclosing this information is already punishable by the law there as well.
If the rest of the world follows suit, then any remaining layer of privacy Bitcoin offers from the government, will go out the window immediately.
Featured image from Deposit Photos, Charts from TradingView