Charges Dropped Against Binance Executive Tigran Gambaryan
The Nigerian government has dropped all charges against Tigran Gambaryan, a senior executive at the cryptocurrency exchange Binance. This was reported by local media.
The decision was announced during a closed session of the Federal High Court in Abuja on October 23 by the prosecutor representing the Economic and Financial Crimes Commission (EFCC).
The main reasons cited for dropping the charges were diplomatic intervention and the extent of the defendant’s involvement in the alleged crimes.
“The government has reviewed the case and, considering that the second defendant (Gambaryan) is an employee of the first defendant (Binance Holdings Limited), whose status in this case is more significant than that of the second defendant, and also taking into account some important international and diplomatic reasons, the state seeks to discontinue the case against the second defendant,” the lawyer stated.
Gambaryan’s defense attorney, Mark Mordi, concurred with the prosecution, stating that his client was not involved in the company’s larger financial decisions.
The prosecution also cited Gambaryan’s deteriorating health condition while in custody and the need for surgery:
“The defendant’s health condition is an ongoing concern, which the state has successfully managed in the correctional center with the help of the national security advisor.”
The court ordered Gambaryan’s immediate release from prison but did not issue an acquittal. According to the prosecution, the case is still under review and witness questioning continues. The lawyer emphasized that the charges were dropped due to Gambaryan’s poor health, “not due to insufficient evidence.”
Binance is now the sole defendant in the case. The next court hearings are scheduled for November 22 and 25.
Nigerian authorities accuse Binance of money laundering and currency speculation amounting to up to $34.4 million. In a separate case, the company is charged with tax evasion.
Back in February, Gambaryan and Binance’s director for West and East Africa, Nadim Anjarwalla, were detained in Nigeria after meeting with the country’s authorities. The latter managed to flee to Kenya, but authorities tracked him down there and arranged for extradition.
Gambaryan had been held at the Kuje correctional center in Abuja since charges were brought against him in April. Due to the conditions of his detention, his physical health deteriorated sharply. The executive suffers from a herniated disc, as well as bouts of pneumonia, malaria, and tonsillitis.
The court twice denied Gambaryan bail.
His wife, Yuki, repeatedly urged the U.S. authorities to intervene in the situation.
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