The Nigerian government has officially dropped all money laundering charges against Tigran Gambaryan, a Binance executive, after he spent over seven months in detention. The Economic and Financial Crimes Commission (EFCC) made the announcement during a Federal High Court session in Abuja on October 23, according to the Premium Times.
EFCC Clarifies Gambaryan’s Role at Binance
During the court proceedings, the EFCC’s lawyer explained that Gambaryan, a United States citizen, held a minor position at Binance and was not a key figure in the company, which had been the primary focus of the prosecution. This clarification led to the withdrawal of charges just two days ahead of a previously scheduled court session on October 25. Reports suggest the hearing was intentionally held in a low-profile manner to avoid drawing significant public attention.
Health Issues May Have Played a Role
While Gambaryan’s limited role at Binance was cited as the main reason for the dropped charges, other sources indicate that his deteriorating health may have influenced the decision. Reuters reported that the EFCC withdrew the case to allow Gambaryan to seek medical treatment abroad. Additionally, Bloomberg Law cited anonymous sources familiar with the case, noting that his worsening health was a critical factor in discontinuing the legal proceedings.
Gambaryan’s lawyer, Mark Mordi, had repeatedly raised concerns about his client’s health, arguing that his condition had worsened during his detention at Kuje prison. Mordi also insisted that Nigeria’s healthcare system was ill-equipped to manage Gambaryan’s medical needs. However, the EFCC disputed the claims, accusing the defense of exaggerating the severity of his health problems.
Bail Denied Twice Despite Health Concerns
Gambaryan’s troubles began in February when he was arrested after traveling to Nigeria to resolve issues related to Binance’s alleged illegal operations in the country. Although Binance announced its full exit from Nigeria in early March, Gambaryan remained in custody.
His attempts to secure bail were unsuccessful. In May, Judge Emeka Nwite rejected his first bail application, labeling Gambaryan a flight risk. A second bail request, submitted in October, was also denied. Despite Gambaryan’s declining health, the court ruled that his condition did not warrant release from custody.
