The Federal Government has withdrawn all money laundering charges against Tigran Gambaryan, an executive at Binance Holdings, citing health concerns. Gambaryan, who had been in detention since April, was facing trial at the Federal High Court in Abuja.
Also Read: [Arrest of Binance Chief Executive]
During a hearing on Wednesday, a counsel for the Economic and Financial Crimes Commission (EFCC) informed Justice Emeka Nwite that the charges against Gambaryan were being dropped. The EFCC lawyer noted that Gambaryan, a U.S. citizen, was merely an employee of Binance and was not involved in the company’s broader financial operations.
Mark Mordi, Gambaryan’s lawyer, concurred with the prosecution, emphasizing that his client’s role within Binance did not extend to the financial decisions under scrutiny.
Gambaryan had previously been denied bail on October 11 after Justice Nwite ruled that the health grounds presented by the defense were insufficient for his release from detention. The judge had initially set October 18 for the continuation of the trial, but Gambaryan’s absence, due to health issues, led to a rescheduling for October 25.
However, Wednesday’s hearing, which had not been publicly scheduled, saw the charges dismissed ahead of the anticipated court session. This development effectively ended Gambaryan’s trial.
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