FG drops money laundering charge against Binance executive, Gambaryan

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    The Federal Government of Nigeria has withdrawn the money laundering charge against Tigran Gambaryan, an executive of Binance Holdings Limited, due to his poor health and diplomatic intervention. Gambaryan was the second defendant in the charge filed by the Economic and Financial Crimes Commission (EFCC) against Binance Holdings Limited .

    According to reports, Gambaryan’s health had deteriorated significantly, and he required surgery, which would have delayed the proceedings. The EFCC counsel, R. U. Adagba, informed Justice Emeka Nwite of the Federal High Court in Abuja about the government’s decision to withdraw the charge against Gambaryan.

    As a result, Justice Nwite ordered Gambaryan’s release from Kuje Correctional Centre and discharged him from the charge. However, the trial against Binance Holdings Limited will continue on November 22 and 25 .

    It’s worth noting that Gambaryan, a U.S. citizen, was arrested on April 8, along with Binance Holdings Ltd, on five charges, including alleged tax evasion, currency speculation, and money laundering of $35.4 million. His counsel, Mark Mordi, requested that the court not only discharge Gambaryan but also acquit him, given the government’s acknowledgement of his limited involvement .

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