FEDERAL GOVERNMENT DROPS CHARGES AGAINST BINANCE EXECUTIVE TIGRAN GAMBARYAN
The federal government has officially dropped all charges against Tigran Gambaryan, an executive at Binance Holdings, who has been in detention since April on allegations of money laundering.
The Economic and Financial Crimes Commission (EFCC) announced the withdrawal of charges during a session at the Federal High Court in Abuja on Wednesday morning. Gambaryan, a United States citizen and former IRS agent, was arrested in February while visiting Nigeria to address regulatory issues concerning Binance. He faced accusations of money laundering and operating an unlicensed financial institution.
Judge Emeka Nwite had previously denied Gambaryan bail on two occasions, citing concerns over potential flight risks. Reports indicated that Gambaryan's health had deteriorated during his detention, with prison officials noting he was “very sick.”
In court, the prosecution’s lawyer clarified that Gambaryan was an employee of Binance and not involved in the company's broader financial decisions. This view was echoed by Gambaryan’s defense lawyer, Mark Mordi, a Senior Advocate of Nigeria.
The decision to drop charges follows intense diplomatic negotiations between Nigerian and U.S. government officials aimed at securing Gambaryan’s release. U.S. lawmakers had also advocated for his release, urging relevant authorities to intervene.
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