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Crime (42)
BINANCE BOSS STARTS A NEW LIFE AFTER JAIL TERM IN US
Written by Kayode Olorundare
The release of Changpeng Zhao, a prominent role in the global cryptocurrency business and the creator of Binance, has occurred. He served a four-month sentence for violating anti-money laundering procedures on his exchange before being released from a California correctional institution. The 47-year-old, also known as "CZ," came back to the US from Dubai earlier this year to serve time on charges related to regulatory violations at Binance, the biggest cryptocurrency exchange in the world based on trading volume.
Due to customary procedures when release dates fall on weekends, he was released two days earlier than expected. Held in Long Beach, California, Zhao is credited for making Binance the biggest cryptocurrency exchange in the world since its 2017 Shanghai launch.
In June, he reported to the institution following his consent to a larger settlement with US authorities that included a $50 million personal fine. In a different agreement, Binance settled claims related to violations of anti-money laundering and sanctions laws by paying $4.3 billion in fines. Zhao leaves detention with a personal fortune estimated at $60 billion (Forbes), placing him among the wealthiest people in the world despite the commotion surrounding his legal troubles.
Although his lawyer stated that he would not be doing interviews after his release, his plans are still unknown. However, Zhao has already hinted at a stronger focus on family and philanthropy. His mother Yi He, a senior executive at Binance and a co-founder of the firm, splits their time between Paris and Dubai.
Before Binance, Zhao had revealed ideas for Giggle Academy, an online learning community that would provide impoverished kids with free educational materials. Although the program is still in its early phases and not much information is accessible at this time, it indicates his intention to use his fortune to support worldwide charitable endeavors. Zhao is formally leaving his job as CEO of Binance, but his status as the platform's top shareholder guarantees he will continue to have a big say in how it develops. Yi He, a co-founder and the mother of three of Zhao's children continues to play a crucial role in Binance, which is currently led by Richard Teng, a former top regulator at Abu Dhabi Global Market.
The business, which announced the appointment of its first board of directors in April, has not yet established a global headquarters, upholding its reputation as a decentralized, virtual organization. A Binance representative voiced optimism in a statement soon after Zhao left the company, saying, "We are thrilled that CZ will be home with his family. Binance has undergone a sea change since Zhao's release, but the exchange is still under close observation as regulators around the globe step up their efforts to tighten regulation over the mostly unregulated cryptocurrency market.
ISRAEL HOSTAGE SHARES HIS STORY FOR THE FIRST TIME
Written by Kayode Olorundare
HARESGlobal audiences have been captivated by Farhan al-Qadi's terrifying story of bravery and survival. The courageous man, who Hamas terrorists kidnaped on October 7, has come forward with a startling admission. According to The Times of Israel, he was abducted because he refused to help the terrorists target Jews during their horrific massacre in southern Israel. In a recent interview with Channel 12 News, Al-Qadi discussed his harrowing experience—from his first kidnapping to the IDF troops' eventual rescue of him after an arduous 11-month incarceration.
For al-Qadi, the events of October 7 started like any other day when he was working close to Kibbutz Magen at the Gaza border. Then, anarchy broke out. When the warning sirens went off, al-Qadi thought the disturbance was just a normal rocket barrage coming from Gaza. His sense of normalcy was immediately dashed, though, when he received a terrifying phone call from his brother informing him that Hamas terrorists had penetrated his job. Al-Qadi bravely chose to reject his captors' horrible demands and stand up to them in a moment of decision that would alter his life forever.
Al-Qadi described in his interview with Channel 12 News the extreme dread and uncertainty he had throughout his months in prison. His mental and emotional health suffered as a result of the terrorists' persistent threat of violence and their use of psychological blackmail. He stated, "I went outside and I saw three Hamas terrorists running toward me and firing in my direction at a distance of 100 meters." Al-Qadi claimed that after apprehending him and verifying his Muslim faith, they addressed him, "Drive us to wherever we find Jews in your car." "I was ready to die rather than lead them—not even to a cat—to a Jew. I'm good friends with everyone in the moshav," al-Qadi said to Channel 12. Al-Qadi persevered in refusing to compromise his morals and enable the terrorists' heinous goal despite unspeakable pressure.
CUBANA CHIEF PRIEST SETTLES OUT OF COURT WITH EFCC
Written by Kayode Olorundare
AThe Federal High Court in Lagos presided over by Justice Kehinde Ogundare on Tuesday, dismissed a case against well-known bartender Pascal Okechukwu, also known as the Cuban Chief Priest, for allegedly abusing Naira. Following the approval of the settlement terms between Cubana and the Economic and Financial Crimes Commission (EFCC), the judge dismissed the charge.
Okechukwu was charged with three counts of altering and spraying Naira notes during a social event at the Eko Hotel in Lagos by the EFCC on April 17. He was given N10 million in bail after entering a not-guilty plea to the charge. Defense attorney Mr. Chikaosolu Ojukwu (SAN) told the court on the last postponed date of May 2 that the parties were considering a settlement and that they had requested that the case be resolved by section 14(2) of the EFCC Act.
After stating their case, defense attorneys requested that their preliminary objection be withdrawn. The judge accepted their request because the prosecution had not objected. As a result, the court postponed the case until June 5 to get a report on the settlement. Due to the defense attorney's absence on June 5, the case could not proceed. The attorney had written to the court pleading for an adjournment.
The matter was subsequently postponed by the court until today, June 25, to receive a settlement report. On Tuesday, when the matter was called, Mr. Chikaosolu Ojukwu (SAN) represented the defense and Mrs. Bilikisu Buhari represented the prosecution. After that, Bilikisu told the court that the prosecution had submitted and accepted the conditions of the settlement, which were dated June 24. The defense attorney replied that he agreed with the prosecutor's assertions and had made the same.
He acknowledged that some of the duties outlined in the aforementioned provisions had been fulfilled and thanked the court for its patience. Then, he implored the court to provide the necessary orders to dismiss the lawsuit. "This charge is at this moment struck out as the defendant is as a result of this cautioned," the court said in a succinct order, following the agreement of the prosecution and defense by the EFCC Establishment Act, which was delivered to the court.
Meanwhile, newsmen were able to receive a copy of the settlement terms from the court, and they stated that the deal only applied to the findings regarding the defendant's legal violations as stated in the pending charge. The accused will sign a bond with the EFCC promising to behave well and refrain from engaging in any economic or financial crime or similar offenses. The defendant will launch a forceful and comprehensive campaign to raise awareness about the misuse of coins and notes issued as legal money under the CBN Act.
The defendant is required to share at least two video clips from his campaign against the misuse of naira and other misdemeanors on his numerous social media accounts every two months. "On execution of this agreement, the Defendant shall pay to the Consolidated Revenue Fund of the Federation such sum as not to exceed N10 million." According to the indictment, the defendant danced at the social gathering at the Eko Hotel and tampered with N500 worth of cash.
AMERICAN SENATE WADE INTO BINANCE EXECUTIVE CASE
Written by Kayode Olorundare
According to the Nigerian government, due process is being followed at every level of the cryptocurrency platform Binance's and its executives' trial by national legislation. The ongoing prosecution of the "rogue online platform, Binance, and one of its Chief Executives, who illegally trade in cryptocurrency in Nigeria," is still of interest, it was stated.
This was revealed by Mohammed Idris, the Minister of Information and National Orientation, in a statement on Wednesday that was signed by the minister's special assistant for media, Rabiu Ibrahim.
Due process has been adhered to at every turn, and prosecutors are confident in their case in light of the information and proof they have obtained. About these grave accusations of financial crimes against the Federal Republic of Nigeria, Binance will have ample time to defend itself in court. June 20, 2024, is the date of the next hearing, according to Idris. The minister clarified that by standard diplomatic procedure and the law, Binance, the defendant, has been granted consular access and all necessary treatment.
He continued by saying that the court had adequately stated that the reason bail was refused was the flight risk following the unlawful absconding of a co-accused who is currently the target of an Interpol warrant. According to the statement, Binance's turnover in Nigeria in 2023 alone was over US$20 billion, significantly more than the federal budget allocated for healthcare and education. This, in turn, contributed to currency speculation and the rising cost of living. Furthermore, it has never paid taxes within Nigerian borders and is not registered there. It has functioned for the entire time without any monitoring or standard safeguards to identify illegal conduct.
According to Idris, it is crucial to acknowledge Binance as a company whose officials have recently faced several penalties, fines, bans, and imprisonment in North America, Europe, and Asia. "Billionaire co-founder and former CEO of Binance, Changpeng Zhao, has been found guilty of money laundering and is currently serving a four-month prison sentence in the United States. Meanwhile, Binance has publicly acknowledged its involvement in supporting pedophile gangs, terrorism, corruption, and breaking sanctions."
It is crucial, according to Idris, to introduce Binance as a company whose officials have recently faced several jail sentences, fines, bans, and sanctions in North America, Europe, and Asia. "While Binance has publicly acknowledged its role in facilitating terrorism, corruption, breaking sanctions, and aiding and abetting pedophile gangs, billionaire co-founder and former CEO Changpeng Zhao is currently serving a four-month prison sentence in the United States after being found guilty of money laundering."
Law enforcement organizations think that Binance's activities in Nigeria are part of a larger global trend. Holding the firm and its officials accountable will be the responsibility of the local and international courts, according to Idris. Earlier on Wednesday, SaharaReporters revealed that 16 US congressmen had written to President Joe Biden requesting the return of Tigran Gambaryan, the CEO of Binance who has been held in Nigeria for nearly three months on suspicion of money laundering.
On February 26, Gambaryan and his associate, Nadeem Anjarwalla, were taken into custody after an inquiry into Binance's operations in Nigeria was conducted. The Nigerian anti-corruption commission, the Economic and Financial Crimes Commission, then filed charges of money laundering and financing terrorism against Gambaryan, his business, Binance Holdings Limited, and Anjarwalla, a fellow top executive who is currently evading a Federal High Court in Abuja.
He was charged with five counts relating to alleged money laundering, currency speculation, and tax evasion totaling $34,400,000. On May 17, 2024, trial judge Justice Emeka Nwite denied his bail request in the wake of his colleague Anjarwalla's escape. Justice Nwite delivered the decision on the bail application, noting that he had carefully reviewed the application and concluded that, if granted, the defendant would violate the terms of the bond.
Gambaryan's wife Yuki had been concerned about her husband's prolonged detention in Kuje jail. She asserted that her spouse was assembled with robbers and terrorists from Boko Haram. Yuki revealed before the US Parliament that her spouse had been detained in Nigeria for sixty-five days. In the meantime, on Tuesday, June 4, 2024, President Biden, Secretary of State Antony Blinken, and Presidential Envoy for Hostage Affairs Roger D. Carstens received a letter from House Foreign Affairs Committee Chair Michael McCaul (R-Texas), along with fifteen other leaders, demanding an immediate action regarding the U.S. citizen.
They begged the president to consider Gambaryan's case as one of hostage and return him to the United States in the letter. "We worry about his life. To protect him and save his life, immediate action is required. Before it's too late, we have to move quickly," they declared. The lawmakers said that Gambaryan has malaria and is not receiving proper treatment from Nigerian prison officials in a letter that Eleanor Terrett released on her X handle. They believed that he had spent three months in Nigeria being held against his will.
SOUTH AFRICAN PRESIDENT CHARGED WITH ANTI-SEMITISM
Written by Kayode Olorundare
RGEDJewish leaders in South Africa denounced President Cyril Ramaphosa for what they said was his weekend incitement to a "genocide" against Jews in Israel. At an election rally in Johannesburg on Saturday, Ramaphosa broke from his prepared speech to lead the audience in chanting, "From the River to the Sea, Palestine shall be free." This slogan is well-known among anti-Israel activists and is commonly taken to mean that the Jewish state, which is situated between the Jordan River and the Mediterranean Sea, should be destroyed.
The speech was given at FNB Stadium, the site of the ruling African National Congress's (ANC) last rally before Wednesday's elections in South Africa. Politicsweb, a South African news website, claims that while Ramaphosa made prepared words, they did not include a request for the release of the "hostages held in Gaza," who were abducted by Hamas militants on October 7. In a statement provided to The Algemeiner, the South African Jewish community denounced Ramaphosa's comments, voicing “its revulsion at the introduction of a call to exterminate Jews from their homeland” by the president.
"In the final moments of the ANC president's election speech, delivered to thousands of ANC members and on national television, the head of state of a democratic nation and the president of the ruling African National Party called for the abolition of the only Jewish state," stated Wendy Kahn, national director of the South African Jewish Board of Deputies (SAJBD). "He used the anti-Semitic catchphrase, "From the river to the sea, Palestine shall be free," which is commonly interpreted as a demand to exterminate the Jewish people.
Kahn said that the slogan "the call to remove all Jews from the Jordan River to the Mediterranean Sea equates to removing all Jews from Israel" was similar to Hamas's aim of "seeing Israel as 'Judenfrei,' or Jew-free," but added that this goal runs counter to the South African government's declared support for a two-state solution to the Israeli-Palestinian conflict. "The chanting of this slogan by a head of state of a government that recurrently tries to express their commitment to a 'two-state Solution' as their policy on Israel and Palestine is hypocritical to the fullest," the SAJBD said.
"How does a president in office oppose the foreign policy of his administration and party? This confirms what we always knew: President Ramaphosa and his administration wanted to incite strife among South Africans against the Jewish community rather than find a diplomatic way to resolve the unfortunate situation. "The president's disrespect for the Jewish community in South Africa is apparent in this spontaneous outburst at the rally, which is nothing more than anti-Semitic sentiment," Kahn continued. The SAJBD is examining how it might hold the president responsible for these derogatory remarks. South Africa’s ANC government has been one of the harshest critics of Israel since Oct. 7, when Hamas terrorists launched the ongoing war in Gaza with their invasion of and massacre across southern Israeli communities.
Shortly after the Hamas pogrom on October 7, South Africa temporarily withdrew its diplomats from Israel and closed its embassy in Tel Aviv, citing the Pretoria government's "extreme concern at the continued killing of children and innocent civilians" in Gaza. Two Hamas representatives were in South Africa in December to attend a conference organized by the government to show support for the Palestinian cause. The US government has imposed sanctions on one of the officials because of his affiliation with the terrorist group. Jewish community members in South Africa demonstrated against Foreign Minister Naledi Pandor's recent request that students and academic administrators step up anti-Israel protests that have taken over college campuses across the United States earlier this month.
The South African government's attempt to convince the International Court of Justice (ICJ) that Israel's defensive battle in Gaza amounted to a "genocide" was unsuccessful in January. But this week, Israel was told to stop its military actions against Hamas, a Palestinian terrorist organization, in the southern Gaza city of Rafah by the top UN court. The ICJ case involving South Africa included the emergency ruling.
NIGERIAN SOLDIERS RESCUE MORE HOSTAGES FROM BANDITS
Written by Kayode Olorundare
MOIn the Ten years since their kidnapping, the Army has recovered no fewer than 386 persons from the Sambisa jungle, most of whom being women and children. After receiving the troops that carried out the 10-day operation, AGL Haruna, the acting GOC 7 Division, said this to reporters outside the Sambisa forest in Konduga LGA. The goal of "Operation Desert Sanity 111," according to Brigadier General Mr. Haruna, is to rid Sambisa Forest of any remaining terrorists from all categories and provide those who are willing to surrender the chance to do so.
"We're working to make sure that terrorist remnants in the Sambisa are removed, and those who are willing to surrender can do so."We anticipate many of them will give up as soon as this operation begins. "As of yesterday, we rescued 386 civilians, and I'm sure that number will rise by today," Haruna added. Speaking to the soldiers on behalf of the Chief of Army Staff, the GOC praised their professionalism and performance throughout the operation and asked them to keep up the pace.
Two Chinese nationals, Duan Ya Hong and Xiao Yi, have been found guilty of engaging in illicit mining in Kwara State, according to the Economic and Financial Crimes Commission. The EFCC said on Thursday, May 16, that the guilty individuals and their firm, Ebuy Concept Limited, were initially charged on April 22 before a Federal High Court located in Ilorin, the capital of Kwara State, on a single count related to illicit mining. After being arraigned, Yi and Hong entered a not-guilty plea and were released on N5 million bail, each with two sureties.
"You, Ebuy Trading Worldwide Nig. LTD, Duan Ya Hong, and Xiao Yi, sometime in February 2024, at Banni, in Kaiama Local Government Area of Kwara State, within the jurisdiction of the Federal High Court, without lawful authority, purchased minerals to wit: 30 tons of minerals conveyed in a truck, with Registration Number JJJ 386 XT and thereby committed an offense, contrary to and punishable under Section 1(8)(b) of the Miscellaneous Offences Act 1984." read part of the statement. After the accusations were read to them, they entered a not-guilty plea.
As a result, they were given a N5 million bail with two sureties in the same amount. Furthermore, the court mandated that they be held under the supervision of the EFCC until their bail terms were fulfilled. The trial for the matter was then postponed to Tuesday, May 14, 2024. The statement went on to say that during a second hearing on Tuesday, Hong and Yi changed their plea and acknowledged that they had engaged in illicit mining. Judge Anyadike judged the defendants guilty during the prolonged hearing on Wednesday, May 15, based on their guilty plea and the absence of objections from their defense attorney. The defendants were sentenced to one year in jail, with the option of a N2 million or N1.5 million fine, respectively.
"The exhibits tendered by the prosecution were accepted into evidence by the court because the defendants, represented by I.A. Ahmed, did not object to their admissibility."Judge Anyadike found the prosecution had proven its case beyond a reasonable doubt and found the defendants guilty as charged. The EFCC said that Yi was sentenced to one year in jail with an option of N1.5 million, while Hong was given a one-year term with the possibility of a fine of N2 million by the judge.
The vehicle used to transport the thirty tons of minerals and their forfeiture was also ordered by the court. Remember that 13 Chinese nationals were detained by agents of the anti-graft agency's Ilorin Zonal Command in July 2023 for offenses related to illicit mining operations in the state. The offense violated the Miscellaneous Offenses Act Cap M17, 1983, Section 1(b).
Tigran Gambaryan, an executive of Binance Holdings Limited, had his bail application denied by Federal High Court Abuja Judge Emeka Nwite. According to Justice Nwite, if Gambaryan is given bail, he would probably leap it. The business and one of its executives were charged with five counts that included allegations of money laundering. Upon hearing the allegations, the accused entered a not-guilty plea.
Mark Mordi, the defendant's attorney, moved a motion, claiming the court had the authority to set conditions to guarantee the defendant's appearance in court and grant bail.
However, Ekele Iheanacho, the prosecution's attorney, objected to the bail request, claiming that the prisoner posed a risk of fleeing. According to him, the defendant tried to get a new passport, which he said was stolen. This was odd because it happened not too long after one of his colleagues escaped from detention. He continued by saying that, given his lack of ties to any Nigerian community, the court could not take the chance of giving him bail. "The defendant is an American citizen by birth as well as an Armenian citizen by birth, therefore just because his passport is with the complainant does not mean that he would stay in Nigeria.
To protect his safety and eliminate any possibility of a flight, he begged the court to reject the application and detain him in the custody of the EFCC. The presiding judge stated in her opinion that several variables, such as the kind of offense and its seriousness, should be taken into account when determining whether or not the defendant applicant should be given bail. Justice Nwite concurred with the prosecution's depositions and believed that if bail was granted, the applicant would violate it. After that, he issued an order to expedite the trial's hearing.
The order issued on April 17th, that Yahaya Bello, the former governor of Kogi state, be taken into custody and produced, is still in effect, according to a Federal High Court in Abuja.
Bello's persistent failure to appear in court and his dissatisfaction with the efforts of the Economic and Financial Crimes Commission (EFCC) to carry out the arrest order, according to Justice Emeka Nwite's judgment on Friday, May 10, were disrespectful to the court.
The order issued on April 17th, that Yahaya Bello, the former governor of Kogi state, be taken into custody and produced, is still in effect, according to a Federal High Court in Abuja.
Bello's According to Justice Nwite, Bello's motions would not be considered by the court unless he appeared in person and entered a plea to the 19-count money laundering allegation that the EFCC had filed against him.
Bello's attorney, Abdulwahab Muhammed (SAN), requested that the case's procedures be halted while the EFCC's appeal over a contempt case before the Kogi State High Court in Lokoja is resolved. However, the court denied his plea. his failure to appear in court and his dissatisfaction with the efforts of the Economic and Financial Crimes Commission (EFCC) to carry out the arrest order, according to Justice Emeka Nwite's judgment on Friday, May 10, were disrespectful to the court.
POLICE RELEASE PASTOR AS KIDNAPPERS SLEPT OFF
Written by Kayode Olorundare
The victims recognized one of the perpetrators, according to the police, and personnel from the Ofosu Division took him into custody. A case of abduction was recorded in Ofosu Division, the police said. The victim, who was the third, was taken while picking snails on the farm, and the victim's wife was abducted in the church. But after taking strong drugs and dozing off, the victims managed to get away from their captors on different dates. "Through intelligence, on May 1, 2024, five out of the six kidnappers were arrested by men of Ofosu division and have been identified by the victims as part of the gang that abducted them," the statement reads. Abayomi Oladipo, the state's commissioner of police, announced that the accused will shortly face charges.
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Judge Isa H. Dashen of a Federal High Court in Yenagoa has awarded N10 million in damages to the Economic and Financial Crimes Commission (EFCC) for their unjustified, illegal, and unconstitutional publication of Pastor Oyinmiebi Bribena and his wife, Pastor Beatrice Bribena, as wanted without a valid court order in the Guardian newspaper on June 8, 2022. In making her decision, the court addressed a case with the case number FHC/YNG/CS/132/2022, which was filed on June 10, 2022, and which sought to uphold Oyinmiebi and Beatrice Bribena's fundamental human rights against Wilson Umujaren and the EFCC.
The court settled the only dispute against the EFCC and Wilson Umujaren, ruling in favor of Oyinmiebi and Beatrice Bribena. Furthermore, the court ruled that the two individuals' fundamental rights to personal liberty, freedom of movement, right to private and family life, and dignity of the human person have been violated by the EFCC's Guardian Newspaper Publication of June 8, 2022, on page 36, stating that they are wanted without a valid court order. These rights are protected by Sections 34(1), 35(1), 37, and 41(1) of the 1999 Constitution of the Federal Republic of Nigeria (As amended), as well as Articles 4, 5, 6, and 12(1) of the African Charter on Human and Peoples Rights (Ratification and Enforcement) Act, Cap A9, Laws of the Federation, 2004.
In addition, Judge Dashen mandated that the EFCC publicly apologize to Oyinmiebi and Beatrice Bribena for the illegal and unconstitutional Guardian Newspaper Publication that had declared them wanted without a court order. In addition, the court ordered the EFCC to refrain from inviting, berating, detaining, and arresting Oyinmiebi and Beatrice Bribena while the outcome of the lawsuit Bliss Multinational Perfections Limited and others v. Economic and Financial Crimes Commission is being determined. In addition, Judge Dashen granted the EFCC and Wilson Umujaren N10,000,000.00 (ten million naira) in exemplary damages for their unlawful violations of Oyinmiebi and Beatrice Bribena's fundamental rights, as well as for the psychological anguish and humiliation they endured as a result of the illegal and unconstitutional Guardian Newspaper Publication.
Judge Dashen ordered many declarations in favor of the petitioners against the Economic and Financial Crimes Commission in a related. matter with the case number FHC/YNG/CS/125/2022 involving Bliss Multinational Perfections Limited and Oyinmiebi Bribena v. the EFCC. The court declared that members of the Baraza Multipurpose Cooperative Society are prohibited from reporting any disputes arising from transactions between themselves and the Co-operative Society to any security agency or any court of law without first reporting to the Registrar/Director of the Bureau of Co-operative Societies, Bayelsa State, by Sections 49 and 50 of the Nigeria Co-operative Societies Act, 1993, Cap C.35, Laws of the Federation of Nigeria, 2006.
It further declared that the defendant could not intervene in any dispute between members of Baraza Multipurpose Society that stems from the registered business objects of the co-operative society, as determined by the interpretation of Sections 49 and 50 of the Nigeria Co-operative Societies Act, 1993, Cap C.35, Laws of the Federation of Nigeria, 2004; and Section 51 of the Co-operative Societies Law of Bayelsa State Cap, C11, 2006.
Additionally, the court ruled that the Economic and Financial Crimes Commission Act of 2004 prohibits the EFCC from interfering in civil disputes resulting from the cooperative society's registered business objects and that the EFCC is not permitted to seize plaintiffs' properties that are not being used as proceeds of crime.
Judge Dashen further declared that the EFCC's seizure and sealing of Bliss Multinational Perfections Limited's property, which is located at No. 1 Otiotio Road, Yenezue-Gene, Yenagoa, Bayelsa State (known as Bliss Emporium) and is not the proceeds of any crime, is illegal and should be returned. Additionally, he stated that the EFCC's illegal, wrongful, and should-be-returned seizure and sealing of the jointly owned property of Bliss Multinational Perfections Limited and Oyinmiebi Bribena, located at No. 57, Green Villa Road, Biogbolo, Yenagoa, Bayelsa State, was improper.
In the most well-known cryptocurrency case, since Sam Bankman-Fried was imprisoned, the founder of the company Binance was sentenced to four months in US prison on Tuesday after entering a guilty plea to money laundering charges. As part of an agreement with US authorities, Canadian Changpeng Zhao left his position at the biggest bitcoin trading platform in the world towards the end of last year. Two Treasury agency investigations claim that Binance was unable to stop transactions by groups such as the Islamic State group, al-Qaeda, or Hamas' military branch.
Zhao admitted to breaking US anti-money laundering regulations, and Binance decided to resolve the legal matter in February by paying $4.3 billion. In a court file, prosecutors requested that the judge sentence the defendant to three years in prison for a crime for which probation is usually the appropriate punishment. In a sentencing brief, attorneys for the Justice Department described Zhao as having "made a business decision that violating US law was the best way to attract users, build his company, and line his pockets." "This sentence will send a message not only to Zhao but to the entire world."
Zhao's attorneys responded in a document, arguing that probation is a fair, suitable, and compliant punishment. They mentioned Zhao's accountability as well as what they claimed to be his charitable background. In a message on X, the previous Twitter platform, Zhao—a resident of the United Arab Emirates—said in November, "I made mistakes, and I must take responsibility."
Since then, he has resided in the United States. Since its founding in 2017, Binance has dominated a large portion of the cryptocurrency trading industry, making its CEO, Zhao, a millionaire. Although Zhao shifted Binance's operations to other countries as Beijing clamped down on the cryptocurrency industry, Binance was started in China. Binance is a global provider of services, including cryptocurrency exchanges, but it suffered greatly after the fall of the market and as authorities started to question the legitimacy of its operations.
With a variety of sophisticated goods and celebrity endorsements, the unstable sector had a boom in 2021 and reached a valuation of more than $3 trillion in 2022. However, a slew of scandals—including the primary competitor exchange of Binance collapsing in November 2022 and the indictment of many industry executives—saw the public's faith crumble and investors withdraw their funds from cryptocurrency. In March, Bankman-Fried, the creator of FTX, was sentenced to 25 years in prison.
The approval of bitcoin exchange-traded funds (ETFs) by US authorities, which enable investors to trade the commodity without creating an account, has played a significant role in the current recovery of the cryptocurrency market. This month, Binance's newly appointed CEO Richard Teng told AFP that the business was closely collaborating with authorities and had spent hundreds of millions of dollars on compliance.
NAF KILLED BANDIT KINGPINS IN AIRSTRIKES AGAIN
Written by Kayode Olorundare
Numerous fighters, including three prominent bandit kingpins, were killed in airstrikes carried out by the Nigerian Air Force (NAF) as part of Operation Hadarin Daji on April 27, 2024, at Bello Turji's camp in the KAGARA forest, which is situated between Shinkafi in Zamfara and Isa LGA in Sokoto. The airstrikes were reportedly carried out a few hours after the terrorists attacked a Civilian Joint Task Force unit at Forward Operating Base ISA in retaliation for the bandits' killing of seven of them and their capture of seven AK-47 weapons, four motorbikes, and other equipment. A gunfight with the robbers resulted in the ultimate cost for eight members of the Civilian Joint Task Force.
Zagazola Makama, a Counter Insurgency Expert and Security Analyst in the Lake Chad area, was informed by intelligence sources that the Air component promptly launched planes to follow down the terrorists after receiving information about their escape towards the Shinkafi axis. Per sources, the terrorists were followed to Kagara Forest, where they hid behind a mango tree halfway between Isa and Shinkafi. As a result, many waves of NAF aircraft struck the camp, instantly eliminating a large number of the terrorists. At Makwaruwa hamlet in Sabon Birni of ISA lGA, the ground soldiers ambushed and captured the escaping outlaws.
Some of the top bandits, including DAN JANGERU, DOGO NA HANTS, and KACHALLAH UBAN DABA, were found to have suffered varying degrees of injury during the battle, according to the battle damage assessment. It is said that Bello Turji avoided the attack. Zagazola is aware that the injured bandits were treated in a primary school when they were secretly brought into Kagara by the ISA. According to the sources, the remaining combatants in Bello Turji's group invaded Rijiya Malladan and Harin Shalla in ISA shortly after his soldiers were killed, setting the hamlet on fire and destroying food supplies.
But the Joint soldiers of Operation Hadarin Daji, together with the government-backed militia known as Yan sa Kai, drove them back. Without a question, the previous week was exciting, particularly for Operation Hadarin Daji (OPHD) in Northwest Nigeria. Aircraft operating in these operational theaters, in conjunction with the Land Component and other security agencies, have made sure that terrorists, insurgents, and other criminal elements operating in the regions do not pose a danger to the security of innocent civilians.
SCHOOL TO REFUND YAYAH BELLO’S CHILDREN SCHOOL FEES BACK TO EFCC
Written by Kayode Olorundare
The Economic and Financial Crimes Commission (EFCC) has been requested by the American International School of Abuja (AISA) to furnish “authentic banking details” to reimburse the tuition fees paid for the children of Yahaya Bello, the immediate former governor of Kogi state. The kids attend the school and are enrolled in grades 2 through 8.
The school stated that tuition had been paid in full "since the 7th of September 2021 to date" in a letter to the EFCC's zonal commander for Lagos. AISA stated that $760,910 should be reimbursed since it has already subtracted the cost of educational services provided.
"As part of your investigation into the alleged money laundering activities by the Bello family, please forward to us an official written request, with the authentic banking details of the EFCC, for the refund of the above-mentioned funds as previously indicated," the letter requests.
"Tuition and other fees totaling $845,852.84 (eight hundred and forty-five thousand, eight hundred and fifty-two US dollars, and eighty-four cents) have been deposited into our bank account since September 7, 2021."After subtracting the cost of the educational services provided, we have determined that $760,910.84 is the net amount that should be remitted and reimbursed to the State. Eighty-four cents, seven hundred and sixty thousand US dollars, and nine hundred and ten US dollars.
"Until the students graduate from ASIA, no additional tuition fees are anticipated as the students' fees have already been paid in full." If the Bello family makes any further deposits, the school stated it will notify the anti-graft agency.
"Ali Bello contacted the school on Friday, August 13, 2021, requesting to pay the family school fees in advance until the students graduate from High School," AISA added in a statement bearing Greg Hughes' signature. According to The Nation, on April 17, EFCC agents besieged Bello's Abuja home to take him into custody about a purported N80.2 billion scam.
Usman Ododo, the governor of Kogi, reportedly came to the residence while the operatives were there and snatched Bello out. A few days later, Yahaya Bello moved $720,000 from the government's coffers to a bureau de change before leaving office to pay for his child's school fees in advance, according to information disclosed by Ola Olukoyede, the chairman of the Economic and Financial Crimes Commission.