The Federal Government has withdrawn the money laundering charges against Gambaryan Tigran, a Binance executive, during a hearing at the Federal High Court in Abuja on Wednesday, October 23. The Economic and Financial Crimes Commission (EFCC) announced the decision, which comes after prolonged diplomatic discussions between Nigerian and U.S. officials advocating for Gambaryan's release.
During the court proceedings, the EFCC's attorney clarified that Gambaryan, a U.S. citizen, was merely an employee of Binance and not directly involved in the alleged activities leading to the prosecution. Mark Mordi, Senior Advocate of Nigeria (SAN) and Gambaryan’s defense lawyer, echoed this sentiment, emphasizing that his client did not partake in the company's broader financial decisions.
The withdrawal of charges follows months of advocacy from U.S. lawmakers and officials, who had lobbied Nigerian authorities for Gambaryan’s freedom. Despite these efforts, he had been denied bail twice, with the court deeming him a flight risk.
Gambaryan, along with Binance's U.S. head of financial crime compliance and the exchange's British-Kenyan regional manager for Africa, Nadeem Anjarwalla, faced allegations of money laundering involving $35 million. While Anjarwalla escaped lawful custody on March 22, 2024, Gambaryan was arraigned in April and subsequently remanded in Kuje Correctional Facility.