Nigeria govt backtracks, drops all charges against Binance executive, Gambaryan

In a shocking twist, the Federal Government of Nigeria has dropped all charges against Tigran Gambaryan, an executive at Binance Holdings Limited who has been standing trial.

This development is coming a few days before his October 25, 2024 court appearance.

The withdrawal of the charges against the Binance Executive who has been in the Nigerian government detention since April 2024 was announced by a lawyer representing the Economic and Financial Crimes Commission (EFCC) – the prosecuting agency at the Federal High Court in Abuja Wednesday morning.

The lawyer premised the decision to withdraw the case on the fact that Gambaryan, a United States citizen, was merely an employee of Binance, whose activities he was being prosecuted for.

Mark Mordi, a Senior Advocate of Nigeria (SAN) representing Mr Gambaryan, agreed with the prosecution, saying that his client was not involved in the company’s broader financial decisions.

It would be recalled that there have been intense pressure and lobbying from the US regarding Gambaryan.

READ ALSO: Binance make fresh appeal for Gambaryan’s release

A few months ago, two high ranking officials of the United States Congress had visited the embattled Binance Executive in detention and have both decried the conditions under which he was being held.

There has been calls for his release due to ill-health.

Gambaryan has been held at the Kuje Correctional Centre in Abuja since his arraignment in April.

He is standing trial alongside Binance, a cryptocurrency company, on five counts of money laundering and currency speculation involving as much as $34.4 million.

Binance is facing tax evasion charges in a separate case before another judge of the Federal High Court in Abuja.

In May, the court denied the Binance executive’s bail application, judging him a flight risk.

By Babajide Okeowo

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