Charges Against Binance Exec Dropped in Nigeria Court

A Nigerian court has officially dropped money laundering charges against Tigran Gambaryan, a senior executive at Binance, following a request from the prosecution citing diplomatic considerations and Gambaryan's deteriorating health. The Economic and Financial Crimes Commission (EFCC) announced the withdrawal of the charges during a court session in Abuja on October 23, 2024. Gambaryan had been detained since April, facing allegations related to financial crimes amounting to $34.4 million.

The EFCC's lawyer, Ekele Ihenacho, stated that Gambaryan's health had significantly declined, necessitating medical treatment outside Nigeria. He emphasized that Gambaryan was merely an employee of Binance and not involved in the company's broader financial decisions. This perspective was supported by Gambaryan's attorney, Mark Mordi, who argued for his client's exclusion from the ongoing case against Binance.

Despite the dismissal of charges against Gambaryan, Binance remains under scrutiny, facing separate allegations of money laundering and currency manipulation. The company is also contending with tax evasion charges filed by the Federal Inland Revenue Service (FIRS). As Gambaryan prepares for medical treatment, the legal challenges for Binance continue to unfold amidst ongoing diplomatic discussions between Nigeria and the United States regarding the case.