The Economic and Financial Crimes Commission has dropped the money laundering case against Binance’s financial crime compliance head, Tigran Gambaryan, after spending eight months in prison.
Mr. Gambaryan was released from the Kuje Correctional Centre in Abuja Wednesday. This decision was announced by the lawyer representing the EFCC, at a Federal High Court sitting in Abuja and presided over Justice Emeka Nwite, where Mr. Gambaryan has been standing trial.
Gambaryan was arrested in Nigeria’s capital, Abuja, along with his colleague Nadeem Anjarwalla. While in jail, he faced serious health issues while in custody, including a back injury and malaria. Last week, he was too ill to attend his court hearing. His next court appearance was billed for October 25.
Announcing the withdrawal of the charges, the EFCC lawyer said Mr. Gambaryan, a United States citizen, was merely an employee of Binance, whose activities he was being prosecuted for.
Counsel to Gambaryan, Mark Mordi, agreed with the prosecution, saying that his client was not involved in the company’s broader financial decisions.
