Nigeria Drops Money Laundering Charges Against Binance Executive Tigran Gambaryan In a surprising legal turn, the Nigerian government has dropped all money laundering charges against Tigran Gambaryan, a high-ranking executive at Binance Holdings, following months of diplomatic negotiations. Gambaryan, a U.S. citizen, had been detained since April and faced five counts related to money laundering and currency speculation, involving over $34.4 million. The decision to withdraw the charges was announced in a low-profile hearing at the Federal High Court in Abuja on Wednesday. Legal representatives from both the Economic and Financial Crimes Commission (EFCC) and Gambaryan’s defense agreed that Gambaryan, being merely an employee of Binance, should not be held responsible for the company’s broader financial activities. Gambaryan’s detention, which had been marked by health concerns and denied bail applications, had drawn significant diplomatic attention, with U.S. lawmakers campaigning for his release. Despite multiple legal challenges, including his designation as a flight risk, the sudden withdrawal of charges ends the high-profile case, which had been closely watched due to the global scrutiny on Binance’s operations. While Gambaryan’s case is now closed, Binance still faces separate charges related to tax evasion in a different trial.

Nigeria Drops Money Laundering Charges Against Binance Executive Tigran Gambaryan

In a surprising legal turn, the Nigerian government has dropped all money laundering charges against Tigran Gambaryan, a high-ranking executive at Binance Holdings, following months of diplomatic negotiations. Gambaryan, a U.S. citizen, had been detained since April and faced five counts related to money laundering and currency speculation, involving over $34.4 million.

The decision to withdraw the charges was announced in a low-profile hearing at the Federal High Court in Abuja on Wednesday. Legal representatives from both the Economic and Financial Crimes Commission (EFCC) and Gambaryan’s defense agreed that Gambaryan, being merely an employee of Binance, should not be held responsible for the company’s broader financial activities.

Gambaryan’s detention, which had been marked by health concerns and denied bail applications, had drawn significant diplomatic attention, with U.S. lawmakers campaigning for his release. Despite multiple legal challenges, including his designation as a flight risk, the sudden withdrawal of charges ends the high-profile case, which had been closely watched due to the global scrutiny on Binance’s operations.

While Gambaryan’s case is now closed, Binance still faces separate charges related to tax evasion in a different trial.