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.
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