News

Industries

Companies

Jobs

Events

People

Video

Audio

Galleries

My Biz

Submit content

My Account

Advertise with us

Subscribe & Follow

Advertise your job vacancies
    Search jobs

    Nigerian court orders release of Binance executive after charges dropped

    A Nigerian court on Wednesday ordered the release of Binance executive Tigran Gambaryan after the government dropped money laundering charges against him to allow him to get medical treatment abroad.
    Tigran Gambaryan, an executive of Binance, the world's largest cryptocurrency exchange, sits as he waits to face prosecution for tax evasion and money laundering at the federal high court in Abuja, Nigeria, 4 April 2024. Reuters/ Abraham Achirga/File Photo
    Tigran Gambaryan, an executive of Binance, the world's largest cryptocurrency exchange, sits as he waits to face prosecution for tax evasion and money laundering at the federal high court in Abuja, Nigeria, 4 April 2024. Reuters/ Abraham Achirga/File Photo

    Nigeria's Economic and Financial Crimes Commission (EFCC) withdrew the case against Gambaryan, a US citizen and head of financial crime compliance at Binance, in open court in the capital city, Abuja, a lawyer for the EFCC said on Wednesday.

    The EFCC said it would continue the money laundering case against Binance without Gambaryan.

    Gambaryan has been in detention in Nigeria since late February and held at Kuje prison. He was charged alongside Binance with laundering more than $35m. Gambaryan and Binance deny the charges.

    Separate tax evasion charges against Binance, the world's largest crypto exchange, remain in place. Binance has also denied those charges.

    "We have withdrawn the money laundering charges against Tigran Gambaryan to allow him to get medical treatment outside the country," said EFCC lawyer Ekele Ihenacho.

    Ihenacho added diplomatic arrangements had also helped in securing Gambaryan's release, without elaborating.

    In August, Gambaryan's wife, Yuki, said her husband's health had deteriorated in prison to the point where "it might leave permanent damage and affect his ability to walk". She asked for him to be freed and vowed to fight for his release.

    Last week, the court adjourned Gambaryan's trial to Friday because he could not appear in court due to illness. Lawyers said the case was brought forward to Wednesday to set him free and allow him get medical treatment outside Nigeria.

    Source: Reuters

    Reuters, the news and media division of Thomson Reuters, is the world's largest multimedia news provider, reaching billions of people worldwide every day.

    Go to: https://www.reuters.com/

    About Camillus Eboh

    Reporting by Camillus Eboh, writing by Chijioke Ohuocha, editing by Alison Williams and Mark Potter
    Let's do Biz