By Jemimah Wellington, JKNewsMedia Reporter
NIGERIA’s FEDERAL government has dropped money laundering charges against Tigran Gambaryan, an executive at Binance Holdings Limited.
The decision comes months after Gambaryan’s arrest in February.
He had been held following allegations tied to the cryptocurrency firm’s operations in Nigeria, including manipulation of the naira.
During a hearing at the Federal High Court in Abuja, the Economic and Financial Crimes Commission (EFCC) lawyer, R. U. Adaba, announced the withdrawal of the charges.
Adaba clarified that Gambaryan, an employee, was not directly involved in the financial misconduct attributed to Binance.
The FG’s actions mark a turning point in a legal battle that had kept Gambaryan in detention for months.
The EFCC initially brought charges against both Gambaryan and Binance in April.
The firm was accused of money laundering and tax evasion, although Gambaryan’s involvement remained unclear.
Gambaryan’s defense lawyer, Mark Mordi, supported the government’s move.
He emphasized that Gambaryan had no role in Binance’s financial decisions.
Mordi added that his client was merely an executive employee with limited responsibility.
Prior to this, the Federal Inland Revenue Service (FIRS) had already dropped tax evasion charges against Gambaryan.
However, the situation remained complicated.
Nadeem Anjarwalla, Binance’s regional manager, had escaped detention in March, leaving Gambaryan to face the charges alone.
This incident raised concerns, prompting his wife to appeal to the Nigerian government for his release, citing his deteriorating health condition.
Despite several attempts to secure bail, the Federal High Court had twice rejected Gambaryan’s applications.
His health issues, raised as a reason for release, were dismissed by Justice Emeka Nwite, who ruled that the health condition wasn’t sufficient grounds.
The court initially set a return date of 25 October, but Wednesday’s unpublicized hearing changed the course.
The EFCC’s decision to withdraw the charges against Gambaryan appears to have ended his prolonged detention and legal troubles.
His case had gained attention after United States (U.S.) lawmakers visited him in Abuja’s Kuje Correctional Centre and urged President Joe Biden to intervene.
