FG Drops Charges Against Binance Executive

The federal government has dropped a money laundering charge against Tigran Gambaryan, an executive at Binance Holdings.

The Binance Executive has been facing a money laundering trial for about six months.
The prosecuting agency, the Economic and Financial Crimes Commission (EFCC), announced the withdrawal of the charges at the Federal High Court in Abuja on Wednesday.

The EFCC said the charge against Mr Gambaryan, a United States citizen, was withdrawn because the accused is merely an employee of Binance.

Mark Mordi, a Senior Advocate of Nigeria (SAN) representing Mr Gambaryan, agreed with the prosecution, saying that his client was not involved in the company’s broader financial decisions.

The EFCC informed the court that the case could not proceed on the last adjourned date due to Gambayran’s health condition, which the state has managed effectively, according to him.

The Commission stated that a report from the Nigerian Correctional Service, through the Office of the National Security Adviser (NSA), now indicates that Gambayran’s health has deteriorated to the extent that he can hardly walk without the assistance of a wheelchair, in addition to suffering from other health issues.

In open court, the EFCC acknowledged that Gambayran needs to undergo surgery and that the surgery and recovery will take some time, potentially impacting the pace of the trial.
After listening to Counsel, Justice Emeka Nwite discharged and acquitted the accused.