Home News Finance Nigeria’s EFCC Withdraws Money Laundering Charges Against Binance Executive Gambaryan
FinanceNews

Nigeria’s EFCC Withdraws Money Laundering Charges Against Binance Executive Gambaryan

399
The Federal High Court in Abuja has adjourned the trial concerning money laundering allegations against Binance Holdings Limited and two of its executives, Tigran Gambaryan and Nadeem until May 17th.
Tigran Gambaryan, of Binance in Court.

The Nigerian government has dropped all charges against Tigran Gambaryan, a Binance Holdings executive detained on money laundering charges. The Economic and Financial Crimes Commission (EFCC) abruptly withdrew the charges during a Federal High Court hearing in Abuja on Wednesday. The hearing was notably held two days ahead of the scheduled trial.

It will be recalled that the executive, a United States citizen, was arrested in February while visiting Nigeria to address Binance’s regulatory issues. He was accused of money laundering and operating an unlicensed financial institution. Despite two bail applications and pleas about his worsening health, the Nigerian government kept him in custody. The case drew attention from U.S. lawmakers who urged his release on humanitarian grounds.

At the hearing on Wednesday, the EFCC’s lawyer stated that Gambaryan, as a Binance employee, was not involved in the company’s overall financial decisions. Gambaryan’s defence lawyer, Mark Mordi, also supported this claim. Diplomatic negotiations between Nigeria and the U.S. had reportedly been ongoing for months. The hearing, held ahead of the previously scheduled October 25 trial, ended the case and led to Gambaryan’s release from Kuje Correctional Centre.

More details later….

Read: Police Arrest Father, Native Doctor Over Son’s Death During ‘Ritual’ in Enugu

About The Author

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

Human RightsNews

Togolese Protesters Tear-Gassed in Their Homes as Uprising Demands President’s Resignation

Togolese youths have taken to the streets in a three-day demonstration, demanding...

FinanceNews

DR Congo, Rwanda to Sign US-Mediated Peace Deal  

The Democratic Republic of Congo (DRC) and Rwanda are set to sign...

NewsSecurity

Niger Counter-Terrorism: Four Suspects Captured in Tanda, Including Alleged Militant Leader

A high-risk counter-terrorism operation conducted on June 25 in the village of...

FinanceNews

Missing ₦210tn: Nigerian Senate Rejects NNPCL’s Retreat Excuse, Gives 10-Day Ultimatum to Appear Before Probe Panel

The Nigerian National Petroleum Company Limited (NNPCL) on Thursday failed to appear...