A Nigerian court has ordered the release of Binance executive Tigran Gambaryan after money laundering charges against him were dropped to enable him to seek medical treatment abroad.
The Economic and Financial Crimes Commission (EFCC) withdrew the charges during a court session in Abuja, as confirmed by the EFCC’s lawyer, Ekele Ihenacho. Gambaryan, a U.S. citizen and head of financial crime compliance at Binance, had been detained in Nigeria since late February.
Despite dropping the charges against Gambaryan, the EFCC plans to continue pursuing the money laundering case against Binance itself. Gambaryan and the cryptocurrency exchange have both denied accusations of laundering more than $35 million.
Separate tax evasion charges against Binance also remain in place, which the company continues to refute. Gambaryan’s release followed diplomatic efforts and concerns about his deteriorating health during his time in detention at Kuje prison.
The decision to release Gambaryan came after his wife, Yuki, publicly raised concerns about his health, which had reportedly worsened during his detention. Last week, the court postponed his trial due to his inability to appear in court because of illness, with the case being expedited to allow for his release on medical grounds.
- Tags: Binance, BinanceFounder, EFCC, Gambaryan, Money Laundering, Nigeria
