Binance Exec Tigran Gambaryan Released by Nigerian Court as Government Withdraws Money Laundering Charges
On Wednesday, October 23, 2024, Reuters reported that a Nigerian court has ordered the release of Tigran Gambaryan, an executive at Binance, following the withdrawal of money laundering charges against him. Gambaryan, who is a U.S. citizen and the head of financial crime compliance for the cryptocurrency exchange, had been detained in Nigeria since late February and was held at Kuje prison.
The Economic and Financial Crimes Commission (EFCC) announced in open court that it would drop the charges to facilitate Gambaryan’s medical treatment abroad. The EFCC lawyer, Ekele Ihenacho, stated that the agency plans to pursue the money laundering case against Binance without Gambaryan’s involvement. Both Gambaryan and Binance have denied the allegations, which involve more than $35 million in alleged money laundering.
Gambaryan’s detention has raised concerns about his health. His wife, Yuki, reported in August that his condition had worsened in prison, potentially resulting in long-term health issues. She had been advocating for his release, emphasizing the urgency of his medical needs.
The court had previously postponed Gambaryan’s trial due to his illness, but it was expedited to Wednesday to allow for his release. Diplomatic arrangements were mentioned as factors that contributed to securing Gambaryan’s freedom, although details were not provided.
In addition to the money laundering charges, Binance faces separate accusations of tax evasion, which remain unresolved. The company has consistently denied all charges leveled against it.
Source: Reuters
