- Nigeria’s anti-graft agency has dropped money laundering charges against Tigran Gambaryan.
- The decision comes amid worsening health concerns.
- A legal expert has offered insight into what comes next for the Binance man.
Since February 2024, pioneer crypto investigator and Binance chief financial crime compliance officer Tigran Gambaryan has been detained in Nigeria for the alleged crimes of his employer despite not having any decision-making power at the firm. After over eight months, however, the Binance executive’s ordeal may now be at an end.
Charges Dropped
Money laundering charges brought against Tigran Gambaryan by Nigeria’s anti-graft agency, the Economic and Financial Crimes Commission (EFCC), in March 2024, have now been dropped.
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According to reports from local news outlets, the prosecution decided to drop the charges against Gambaryan in an unpublicized hearing on Wednesday, October 23, asserting that the Binance employee lacked oversight over the firm’s financial decisions.
Notably, this is an argument the defense has made since the beginning of the case that had been met with fierce resistance from the prosecution, which argued that Gambaryan was an agent of the firm who could be legally held accountable for the firm’s actions.
Meanwhile, beyond Gambaryan’s role at Binance, the EFCC reportedly cited “critical international and diplomatic reasons” and the lack of improvement in the Binance executive’s health for its decision.
Gambaryan’s detention had reportedly increasingly taken center stage in U.S.-Nigerian relations amid pressure within the former for the release of the former IRS special agent.
The Binance executive’s health has also been a major concern in the case since May 23 when he slumped in court. He has reportedly suffered from repeated bouts of malaria, pneumonia, and respiratory tract infections. In addition to these issues, he has been left largely bedridden and forced to use a wheelchair as a pre-existing herniated disk condition has been exacerbated in Nigerian prison.
The recent unpublicized hearing in the Gambaryan case comes two days before an October 25 hearing that was scheduled to provide an update on the Binance man’s health, which rendered him unable to appear at a court hearing on October 18.
Gambaryan Now A Free Man?
Following the court proceedings, Nigerian Federal High Court Judge Justice Emeka Nwite ordered the immediate release of Gambaryan from the country’s infamous Kuje Prison.
Whether the Binance man has actually been released from prison, however, remains unclear. Speaking with DailyCoin about how these processes normally go, TEMPLARS Associate Albright Emmanuel asserted “It’s not a long process really.”
According to the lawyer, after the signing in court, all that remains is for the order to be taken to the correctional service to be signed again and stamped.
“This typically takes less than seven days and can be done the same day, depending on the lawyers and bureaucracy,” She explained.
DailyCoin also reached out to Gambaryan’s lawyer, Aluko & Oyebode’s Mark Mordi, for comment but has yet to receive any feedback at the time of writing.
On the Flipside
- Despite the charges being dropped, Gambaryan was not acquitted. This implies that the prosecution reserves the right to bring up the case against him again.
- The money laundering case will continue against Binance.
Why This Matters
Tigran Gambaryan has been away from his family and friends for over eight months in an ordeal that has put significant mental and emotional strain on all involved, while setting a worrying precedent for crypto workers abroad.
Read this to find out how Gambaryan found himself in this nightmare:
Binance’s Gambaryan Still Detained After 6 Months: Where Are the Answers?
See why Sky (formerly MakerDAO) may consider undoing its recent rebranding:
Why Sky (MakerDAO) Is Mulling a Reversal of Its Brand Overhaul
