In a significant development, the Nigerian government has withdrawn all money laundering charges against Tigran Gambaryan, an executive at Binance Holdings. The decision was made public on Wednesday morning by a lawyer from the Economic and Financial Crimes Commission (EFCC) during a hearing at the Federal High Court in Abuja.
Gambaryan, a United States citizen, had been detained since April, facing charges related to money laundering. His case, which had drawn considerable attention, was adjourned last week to October 25 due to his absence in court, with authorities citing his critical illness as the reason.
At the hearing on Friday, the Nigeria Correctional Service (NCS) informed Justice Emeka Nwite that Gambaryan could not attend the trial due to his health condition. His lawyer, Mark Mordi (SAN), expressed uncertainty about his client’s whereabouts at the time. The EFCC’s counsel, Ekele Iheanacho (SAN), also expressed surprise at Gambaryan’s absence.
On Wednesday, however, the EFCC’s lawyer clarified that Gambaryan was not involved in Binance’s broader financial operations. He was described as merely an employee whose role did not extend to making executive decisions for the company. This statement was echoed by Gambaryan’s defense team, led by Mark Mordi, who emphasized that his client’s responsibilities were limited and that he had no direct involvement in the financial misconduct the company was being investigated for.
The decision to drop the charges marks the end of a months-long legal battle involving the cryptocurrency giant’s executive and the Nigerian authorities.
