Nigeria Government Drops Charges Against Binance Executive Gambaryan For Money Laundering

The chapter on dramatic trial of Binance executive Tigran Gambaryan on money laundering charges by the Nigerian government seemed to have been closed on Wednesday.

This is with the withdrawal of all charges against Gambaryan by the Nigerian government in court on Wednesday.

The executive of Binance Holdings been in detention at Kuje prison, Abuja from where he has been facing money laundering trial since April.

However at a hearing held two days to the October 25 adjourned date for his next appearance in court, a lawyer representing the Economic and Financial Crimes Commission (EFCC) announced the withdrawal of the charges against Gambaryan, a United States citizen.

The lawyer noted that Gambryan was merely an employee of Binance, whose activities he was being prosecuted for.

Mark Mordi, a Senior Advocate of Nigeria (SAN) representing Gambaryan, agreed with the prosecution.

He said his client was not involved in the company’s broader financial decisions.

Gambaryan, was conspicuously absent in court during the last hearing of his case on Friday Oct. 11.

This was after rejection of Gambaryan’s second bail application by Justice Emeka Nwite.

When the matter was called on Friday, all the counsel to the parties in the case were in court except the 2nd defendant, Gambaryan.
However, it was later confirmed that the Binance executive could not come to court because he was very sick.

Mordi, who appeared for Gambaryan, prayed the court for an adjournment.

“I urge for a date next week if only to report on the 2nd defendant’s state of health.

“This will allow parties to take necessary steps to ensure that the defendant is given the medical care required,” he said.

Iheanacho did not opposed Mordi’s oral application.

The lawyer said though he would have wanted the matter to proceed since their witness was in court, “we are also of concern about the defendant’s health status.”

“We are very concerned about the issues of health.”

The judge subsequently adjourned the matter until Oct. 25 for a report about Gambaryan’s health.