AFRICA: Nigerian court orders release of Binance executive after charges dropped

A Nigerian court on Wednesday ordered the release of Binance executive Tigran Gambaryan after the government dropped money laundering charges against him to allow him to get medical treatment abroad.

Nigeria’s Economic and Financial Crimes Commission (EFCC) withdrew the case against Gambaryan, a U.S. citizen and head of financial crime compliance at Binance, in open court in the capital city, Abuja, a lawyer for the EFCC said on Wednesday.

AFRICA: Nigerian court orders release of Binance executive after charges dropped

AFRICA: Nigerian court orders release of Binance executive after charges dropped

The EFCC said it would continue the money laundering case against Binance without Gambaryan.

Gambaryan has been in detention in Nigeria since late February and held at Kuje prison. He was charged alongside Binance with laundering more than $35 million. Gambaryan and Binance deny the charges.

Separate tax evasion charges against Binance, the world’s largest crypto exchange, remain in place. Binance has also denied those charges.

“We have withdrawn the money laundering charges against Tigran Gambaryan to allow him to get medical treatment outside the country,” said EFCC lawyer Ekele Ihenacho.

Ihenacho added diplomatic arrangements had also helped in securing Gambaryan’s release, without elaborating.

In August, Gambaryan’s wife, Yuki, said her husband’s health had deteriorated in prison to the point where “it might leave permanent damage and affect his ability to walk”. She asked for him to be freed and vowed to fight for his release.

AFRICA: Nigerian court orders release of Binance executive after charges dropped

Last week, the court adjourned Gambaryan’s trial to Friday because he could not appear in court due to illness. Lawyers said the case was brought forward to Wednesday to set him free and allow him get medical treatment outside Nigeria.

30 May 2024

EU: Georgian Parliament overrides president’s veto on offshore law

The Georgian Parliament did not consider the president’s substantiated remarks presented during the veto procedure on the offshore law and thus overrode the veto. In her remarks, Georgian president Salome

Read More
1 March 2024

UK: Complex offshore tax avoidance scheme revealed by HMRC

A complex tax avoidance scheme that moves income offshore has been exposed by HM Revenue and Customs (HMRC) today (29 February 2024), with anyone who has joined the arrangement warned to get out of

Read More
6 February 2024

SPAIN: Spain’s finance ministry targets crypto, NFTs with new tax reform

The Spanish Ministry of Finance aims to enhance its authority to seize crypto and non-fungible tokens (NFTs) as part of a new tax reform. The Ministry of Finance of Spain is gearing up to push a new

Read More
8 November 2024

US: SEC commissioner backs Trump’s plan to end crypto crackdown

Republican SEC Commissioner Mark Uyeda wants to help president-elect Donald Trump fulfill his promise of ending the Biden Administration’s so-called war on crypto, FOX Business has learned. Uyeda,

Read More