Nigeria’s government has decided to drop the money laundering charges against Tigran Gambaryan, an executive at Binance. This decision comes shortly after a court denied him bail. According to Punch, a local news outlet, the charges were withdrawn to allow Gambaryan to seek medical treatment abroad. However, it is important to note that the government will continue with the money laundering case against Binance itself.
Gambaryan, who is the head of financial crime compliance at Binance, has been in detention in Nigeria since February. He was invited to the country by the government to discuss matters related to the company. His colleague, Nadeem Anjarwalla, Binance’s regional manager for Africa, managed to escape detention in March.
During his time in prison, Gambaryan, a U.S. citizen, has faced numerous health issues including malaria, pneumonia, tonsillitis, and complications from a herniated disc in his back. These health problems have left him in need of medical attention, including surgery. Despite his health concerns, Gambaryan was seen struggling with a single crutch during his last court appearance, as reported by CoinDesk.
The decision to drop the charges against Gambaryan comes after significant pressure from various parties, including his family, Binance, and U.S. officials. Binance CEO Richard Teng and members of the U.S. Congress have been advocating for his return to the U.S. for medical treatment.
It is worth mentioning that Nigeria is still pursuing a tax-evasion trial against Binance, seeking hefty penalties for alleged involvement in enabling untraceable funds amounting to $26 billion, which had an impact on the Nigerian currency.
The Gambaryan family, Binance, and Nigeria’s Economic and Financial Crimes Commission have yet to comment on this recent development. The situation remains fluid, and updates may follow as more information becomes available. The dropping of charges against Gambaryan highlights the complexities and challenges faced by international businesses operating in different jurisdictions.
