Breaking: Nigerian Govt Drops Charges Against Binance Executive Gambaryan

The government of President Bola Tinubu has withdrawn money laundering charges against Tigran Gambaryan, an executive of Binance Holdings Limited.

The Economic and Financial Crimes Commission (EFCC) had initially charged Binance, a major cryptocurrency firm, and Gambaryan in April with allegations of money laundering.

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EKO HOT BLOG reports that Gambaryan, a U.S. citizen, had been in detention since February, following an EFCC investigation into the company’s alleged manipulation of the Nigerian currency. However, on Wednesday, during a Federal High Court session in Abuja, the EFCC’s lawyer announced the decision to withdraw the charges.

The hearing took place two days ahead of the previously scheduled return date of October 25. Observers noted that the session appeared to be timed to minimize public scrutiny.

In court, the EFCC’s lawyer clarified that Gambaryan, an employee of Binance, was not responsible for the company’s larger financial decisions.

Mark Mordi, a Senior Advocate of Nigeria (SAN) and Gambaryan’s defense attorney, concurred with the prosecution’s statement, emphasizing that his client had no involvement in Binance’s broader financial operations.

 

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