Nigerian Crypto Celebrity Linus Williams Released on Bail
Linus Williams, also known as Blord, the Nigerian cryptocurrency celebrity is permitted to leave the prison after spending 3 days there. The fintech CEO, well-loved by the crypto community, was taken into custody after the Cybercrime division of the Nigeria Police Force had uncovered his involvement in the use of cryptocurrency for fraud and terrorism financing.
Blord was in Abuja when he was arrested on Tuesday, which led to many people talking about his supporters and the fintech community. As per the local media report, this businessman of 26 years old is an entrepreneur who was released on the same day he was arrested and right there and then talked to his followers.
False Accusations
Blasting on Instagram, Blord gave an inspiring message “Youth President For A Reason”, showing his character and his place at the leadership position of a youth population in Nigeria.
The Blord Group, the company that is run by Linus Williams, immediately responded to the rumors. They mentioned that the arrest of Blord was not true but he was invited by the authorities only to explain his position.
Their press release was aimed at alleviating the fears of investors and encouragers that they were worried about the effect of the charges on the functioning of the company.
Adverse Police Statements
On the other hand, there are contradictions to what has been said by the police. IT is real that the Nigeria Police Force has confirmed the arrest of Blord, detailing the manner he was taken away by their Cybercrime unit. According to the police, he was on several charges, some of which were internet fraud and funding terrorism.
Nigeria’s Crypto Conundrum
The knowledge of this situation arises in the middle of discussions on the regulation of cryptocurrency in Nigeria and the actions taken to diminish illegal activities connected to digital assets.
The arrest of Blord and the following release is a clear indication of the challenges and adverse judgment cryptocurrency entrepreneurs in Nigeria are facing. As the popularity of digital currencies is increasing the cryptocurrencies regulatory authorities are getting all the more vigilant internationally over their potential misuses.
This matter is the most pressing in Nigeria due to the population’s increasing use of cryptocurrencies and the absence of any clear regulations. Even though the indictment is grave, the release of Blord with bail is a proof that the investigation has just started.
Though, the innocence of these people is not clear, the human rights and civil rights organization groups are silent on this matter. Such an arrest was reported in the news of Nigeria recently and it is one among a few that have been witnessed in the last couple of years. In February, Nigerian authorities arrested two people, Tigran Gambaryan and Nadeem Anjarwalla, on charges of money laundering and tax evasion. That happened shortly after the government ruler proclaimed the ban on parallel markets with cryptocurrencies to stop currency speculation.
