Crime and Law
FG drops money laundering charges against Binance boss
The Nigerian government has withdrawn all money laundering charges against Tigran Gambaryan, an executive at Binance Holdings.
Gambaryan, a U.S. citizen, had been facing trial since April and remained in detention throughout the legal proceedings.
The Economic and Financial Crimes Commission (EFCC), which led the prosecution, announced the withdrawal of charges at the Federal High Court in Abuja on Wednesday, October 23, 2024. During the court session, the EFCC’s lawyer clarified that Gambaryan was merely an employee of Binance and was not responsible for the company’s broader financial operations.
Mark Mordi, Senior Advocate of Nigeria (SAN) and legal representative for Gambaryan, concurred with the prosecution’s stance, affirming that his client was not involved in the company’s strategic financial decisions. He emphasized that the charges were misplaced as Gambaryan had no control over the activities under investigation.
Thediscovererng.com reports that the withdrawal of charges marks a significant development in the case, ending months of legal uncertainties for Gambaryan, who had been in detention since the trial began.
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