The Federal Government has announced the withdrawal of money laundering charges against Tigran Gambaryan, a senior executive at the cryptocurrency exchange Binance Holdings Limited. The decision was made due to the executive’s deteriorating health and diplomatic intervention.
Gambaryan, who was the second defendant in the case filed by the Economic and Financial Crimes Commission (EFCC), had been detained in Nigeria. The EFCC had accused Binance and Gambaryan of engaging in illegal financial activities.
The EFCC’s counsel, R. U. Adagba, informed Justice Emeka Nwite of the Federal High Court in Abuja about the government’s decision to drop the charges because of his deteriorating health.
She also informed the court that the anti-graft agency has indicated that it will continue its prosecution of the cryptocurrency company itself.
Following arguments from both the prosecution and defense, the judge discharged the detained executive and adjourned the trial against Binance until November 22nd and 25th.
