Freedom at Last! The Nigerian Government Lifts all Charges Against Binance Executive
Nigeria's Economic and Financial Crimes Commission (EFCC) lawyer says that Gambaryan's alleged unlawful activity at Binance as an employee cannot be charge.
On Wednesday, October 2024, Nigerian prosecutors withdrew criminal charges against Binance Tigran Gambaryan who was incarcerated in the African nation since February.
The decision marks the end of an eight-month ordeal for the 40-year-old former US federal agent, who heads Binance’s financial crime compliance team.
Nigeria’s Economic and Financial Crimes Commission (EFCC) lawyer says that Gambaryan’s alleged unlawful activity at Binance as an employee cannot be charge.
The EFCC’s decision to drop charges against Gambaryan comes amid concerns about his deteriorating health. He had been suffering from several ailments, including a back injury and malaria, which had prompted calls for his release on humanitarian grounds. Last week, his condition prevented him from attending a court hearing.
The release comes as a relief to Gambaryan’s family and Binance, who had been pleading with Nigerian authorities to drop what they considered a trumped-up case. In June, two members of the US House of Representatives visited Gambaryan in prison and called for his immediate release, citing his poor health.
Biden Administration Intervention on Binance Executive Release
The Biden Administration also intervened, with US Ambassador to the UN Linda Thomas-Greenfield raising the issue with Nigeria’s foreign affairs minister, stressing the importance of resolving Gambaryan’s situation for US relations with the African nation.
The EFCC dropped the charges against Gambaryan, but the money laundering case against Binance continues. The trial will begin in November. Gambaryan’s troubles started in February when Nigerian authorities arrested him and his colleague, Nadeem Anjarwalla, in Abuja.
The authorities accused Binance of contributing to the depreciation of the naira by allowing significant manipulation of a digital version of the currency on its platform.
Binance sent Gambaryan and Anjarwalla to Abuja to engage with government officials. Upon arrival, Nigerian authorities placed the two men under house arrest and seized their passports. Anjarwalla escaped from custody in March and fled the country.
Interpol issued a Red Notice for his arrest, but authorities have not apprehended him since. Gambaryan, however, remained in custody and faced charges of money laundering and tax evasion.
