Money Laundering Charges Against Binance’s Tigran Gambaryan Dropped After Seven Months in Nigerian Prison: Report

Binance executive Tigran Gambaryan’s charges of money laundering have reportedly been dropped in Nigeria after he spent seven months in prison.

According to local reports, the Nigerian government is dropping all charges against Gambaryan, leaving Binance as the only defendant left in the lawsuit.

The judge in the case, Emeka Nwite, ordered Gambaryan to be released from prison just two days before his October 25th trial after the prosecution made a request to do so earlier in the day.

As stated by attorney R.U. Adaba, a member of the prosecuting agency,

“The government has reviewed the case and, taken into consideration that the second defendant (Mr. Gambaryan) is an employee of the first defendant (Binance Holdings Limited), whose status in the matter has more impact than the second defendant’s, and also taking into consideration some critical international and diplomatic reasons, the state seeks to discontinue the case against the second defendant.”

Adaba goes on to say that Gambaryan’s deteriorating health was also a deciding factor in his release, adding that the defendant was in a wheelchair and has been recommended surgery.

“The health of the defendant has been a recurrent issue which the state has managed well at the correctional center facility through NSA (the National Security Adviser).”

The decision to release Gambaryan comes after Judge Nwite ruled earlier this month that someone being in poor health “does not entitle them to leave custody, unless the continuous stay of the detainee possesses a harm to others and quarantine isn’t available.”

Gambaryan, a former agent of the US Internal Revenue Service (IRS), initially traveled to Nigeria with a colleague as a means of engaging in regulatory talks.

However, he was imprisoned shortly after and charged with money laundering and operating an unlicensed financial institution while his co-worker managed to flee the country.

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