Binance Executive in Nigeria Tigran Gambaryan is finally free as the government has dropped all charges against him in an unusual twist
On Wednesday, the Nigerian government dropped all money laundering charges against Tigran Gambaryan, the Binance executive locked in jail since April 2024. Gambaryan and his colleague Nadeem Anjarwalla were arrested and detained during their visit to the country in February for a “meeting” with the authorities.
Binance Executive and The Complex Legal Battle
According to a local newspaper, counsel to the country’s anti-corruption agency, the Economic and Financial Crimes Commission (EFCC) announced the decision to drop the charges at a Federal High Court in Abuja. The move comes two days prior to the scheduled hearing before a trial judge slated for October 25.
In his submission, the EFCC lawyer stated that Gambaryan, a U.S. citizen, is just an employee of Binance. Hence, the commission has decided not to continue prosecuting him over the activities of the renowned crypto exchange.
Legal experts say the recent move might be related to diplomatic talks between the Nigerian and U.S. governments, initiated recently.
Gambaryan’s lawyer, Mark Mordi, agreed with the prosecuting counsel’s submission, restating his client’s innocence. Mordi maintained that his client has no involvement in Binance’s broader financial decisions.
Before this court proceeding, the trial judge, Emeka Nwite, rejected Gambaryan’s bail application on October 11. Judge Nwite denied the bail application, insisting that Gambaryan’s ill health was not enough grounds to set him free from detention.
Uncertainty Surrounding Anjarwalla’s Fate
The Binance executive has remained in Kuje Correctional Centre, Abuja, after the court denied him bail, declaring him a flight risk. Interestingly, Gambaryan’s colleague Nadeem Anjarwalla, who stood trial alongside him, escaped to Kenya on March 22. Anjarwalla fled from the custody of security operatives who led him to a mosque for Friday prayers during the Ramadan fast.
Although there were talks about extraditing Anjarwalla in collaboration with the International Criminal Police Organization (INTERPOL), nothing further happened. Meanwhile, it is also not clear if the charges dropped against Gambaryan apply to Anjarwalla as well.
As of this writing, Binance is yet to issue an official reaction to the release of its executive.
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