cryptojournalist
The Nigerian government has decided to drop all charges against Tigran Gambaryan, a Binance executive who has been in prison for over seven months. The announcement came from a lawyer for the Economic and Financial Crimes Commission (EFCC) during a court session in Abuja on October 23.
The EFCC lawyer stated that Gambaryan, a U.S. citizen, did not hold a significant position at Binance, which was the focus of the prosecution’s case. This decision was made just two days before a scheduled court hearing.
Health Issues Considered?
While the main reason given for dropping the charges was Gambaryan’s minor role at Binance, other reports suggest his health played a part. Some sources indicated that the EFCC may have withdrawn the case to allow him to seek medical treatment abroad. Gambaryan’s lawyer highlighted that his health deteriorated while he was in Kuje prison, but the EFCC claimed the defense overstated the situation. The lawyer argued that Nigeria’s healthcare system was not equipped to handle Gambaryan’s medical needs.
Previous Bail Denials
Gambaryan, a former U.S. tax agent specializing in cryptocurrency, was arrested in February after coming to Nigeria to resolve a dispute regarding Binance’s operations in the country. Despite Binance’s announcement in early March that it would fully withdraw from Nigeria, the government kept Gambaryan in custody, denying his bail twice. The first denial in May was due to concerns that he might flee, and a second denial in October cited his worsening health as insufficient grounds for release.
Future Implications for Binance
Even with the charges against Gambaryan dropped, Nigeria plans to continue its money laundering case against Binance. Reports indicate that the country’s tax allegations against the exchange also remain active, as Binance faces accusations of tax evasion for not registering with Nigeria’s Federal Inland Revenue Service
