Vice President for Global Intelligence and Investigations at cryptocurrency exchange Binance, Tigran Gambaryan, has left Nigeria after eight months of detention. This was confirmed by his family to CoinDesk.
The CEO of the trading platform, Richard Teng, commented on his colleague’s release.
We are deeply relieved and grateful that Tigran Gambaryan has finally been released after enduring nearly eight months of detention in Nigeria. Throughout this difficult period, Tigran has shown immense strength, and we commend his resilience in the face of such severe adversity.…
— Richard Teng (@_RichardTeng) October 24, 2024
“We are deeply relieved and express our gratitude that Tigran Gambaryan has finally been released after nearly eight months of detention in Nigeria. His health and well-being remain our top priority, and we are thankful that he can now receive the medical care and rest he so needs, together with his family,” he stated.
Teng emphasized that Binance remains committed to cooperating with global regulators to ensure compliance and transparency in the evolving digital asset space.
“With a young, tech-savvy population and a strong interest in digital finance, Nigeria is well-positioned to leverage blockchain technology to address economic and social challenges. We look forward to playing a constructive role in these efforts,” added the head of the exchange.
Earlier, Nigerian authorities dropped all charges against Tigran Gambaryan, allowing him to seek medical treatment abroad. However, the court did not issue an acquittal as the case was not substantively reviewed.
Currently, Binance Holdings Limited is the sole defendant in charges of money laundering and currency speculation amounting to up to $34.4 million. In a separate case, the company is accused of evading taxes.
Back in February, Gambaryan and Binance’s director for West and East Africa, Nadim Anjarwalla, were detained in Nigeria following a meeting with the country’s authorities. The latter managed to escape to Kenya.
Since being charged in April, Gambaryan had been held at the Kuje Correctional Centre in Abuja. Due to the conditions of his detention, his physical health deteriorated sharply. The top manager suffers from a herniated disc, as well as bouts of pneumonia, malaria, and tonsillitis.
The court twice denied Gambaryan bail.