Tigran Gambaryan is Free: Binance Exec Arrested In Nigeria Finally Has Charges Against Him Dropped

Binance executive Tigran Gambaryan has had his money laundering charges dropped by the Nigeria government. Gambaryan has been detained in the African country since February 2024.

Legal representation from the Economic and Financial Crimes Commission (EFCC) announced the charges were dropped at the Federal High Court in Abuja, Nigeria, earlier today (October 23).

🚨🇳🇬Big Breaking: Nigeria dropped money laundering charges against #Binance executive Tigran Gambaryan after spending 264 days in jail. pic.twitter.com/VTT39J0TGe

— The Crypto Times (@CryptoTimes_io) October 23, 2024

Binance Exec Cleared But The Exchange Still Faces Money Laundering And Tax Evasion Charges in Nigeria

However, the Nigerian government plans to continue prosecuting Binance on the same money laundering charges without Gambaryan. The digital asset exchange also faces tax evasion charges.

Less than two weeks ago, a Nigerian court denied Gambaryan bail on medical grounds. Since his transfer to Kuje prison in March, Tigran’s physical and mental health had reportedly deteriorated rapidly. He is said to have suffered a herniated disc in his back alongside bouts of pneumonia, malaria, and tonsillitis.

Gambaryan was also denied the use of a wheelchair during a court appearance on September 2. A video showing him arriving at court in a distressed state began circulating rapidly on social media.

Following the video’s release, Binance CEO Richard Teng quickly demanded Gambaryan’s release. In an interview, Teng said that Tigran had been “unjustly held for close to half a year now” and that “He needs medical treatment before his conditions become permanent.”

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The Other Binance Executive Arrested Alongside Gambaryan Had Already “Escaped From Custody” Back In March

Runaway Binance Executive, Nadeem Anjarwalla has been found in Kenya pic.twitter.com/m8drF9VaDy

— Instablog9ja (@instablog9ja) April 13, 2024

Tigran Gambaryan, a former Special Agent for the United States IRS, and Nadeem Anjarwalla, Binance’s Regional Manager for Africa, were detained following their arrival in Nigeria’s capital city, Abuja, on February 26 this year.

On February 28, within two days of the arrests, criminal charges were filed against Binance and the two executives. The charges included $35 million in money laundering accusations and multiple tax violations.

The tax charges against the executives were dropped in June, leaving Binance as the sole defendant. However, the money laundering charges against all defendants remained until today.

Anjarwalla escaped from custody on March 22. Nigeria said that Mr Anjarwalla fled the country with a “smuggled passport”, but a family source has said he had left by lawful means.

The Nigerian government previously denied the allegations of Tigran Gambaryan’s poor healthcare and claimed that the Binance executive “has access to quality medical care whenever required.”

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