On Wednesday, the Federal Government announced the withdrawal of money laundering charges against Tigran Gambaryan, an executive of Binance Holdings Limited, citing his ill health and diplomatic intervention.
According to the News Agency of Nigeria (NAN), Gambaryan was the second defendant in a case brought against the cryptocurrency platform, the first defendant, by the Economic and Financial Crimes Commission (EFCC).
R.U. Adagba, counsel for the EFCC, informed Justice Emeka Nwite of the Federal High Court in Abuja about the government’s decision to withdraw the charges due to Gambaryan’s deteriorating health. However, Adagba confirmed that the EFCC would continue its case against Binance Holdings Limited.
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After hearing from both the prosecution and the defense, Justice Nwite discharged Gambaryan from the charges and adjourned the trial against Binance until November 22 and November 25 for further proceedings.
Gambaryan had been facing the money laundering trial for approximately six months following his arrest in Nigeria. The EFCC stated that the decision to withdraw the charges was based on the fact that Gambaryan, a U.S. citizen, is merely an employee of Binance.
Mark Mordi, a Senior Advocate of Nigeria (SAN) representing Gambaryan, supported the prosecution’s stance, affirming that his client was not involved in the company’s broader financial decisions.
