- Binance Executive Released: Tigran Gambaryan, Binance’s executive, has been released from detention due to health concerns and diplomatic pressure.
- Money Laundering Charges Dropped: The Federal Government withdrew the $35 million money laundering charges against Gambaryan.
- Continued Prosecution of Binance: The government will continue to prosecute Binance Holdings Limited.
- Health Concerns: Gambaryan’s health issues, including malaria, pneumonia, tonsillitis, and complications from a herniated disk, led to his release.
Binance Prosecution Update
In a recent development, the Federal Government of Nigeria has dropped the money laundering charges against Tigran Gambaryan, Binance’s executive, due to his deteriorating health and diplomatic pressure. Gambaryan, who was arrested in February along with Nadeem Anjarwalla, Binance’s British-Kenyan regional manager for Africa, was facing $35 million in money laundering charges.
Court Ruling
Justice Emeka Nwite discharged Gambaryan from the money laundering charges and ordered his immediate release from the correctional center. However, the prosecution will continue against Binance Holdings Limited, with the next hearing scheduled for November 22 and 25.
Background
Gambaryan and Anjarwalla were detained by the Economic and Financial Crimes Commission (EFCC) in February. Anjarwalla fled Nigeria in March, while Gambaryan remained in detention. Gambaryan’s counsel had requested bail due to his client’s poor health, but it was initially denied.
