Charges Against Binance Executive Gambaryan Withdrawn By Nigerian Government

News/Opinion

Charges Against Binance Executive Gambaryan Withdrawn By Nigerian Government

Reported by Ayooluwa Afolabi

The Federal Government has withdrawn all charges against Binance Executive, Tigran Gambaryan, who has been facing a money laundering trial in detention since April.

A lawyer representing the Economic and Financial Crimes Commission (EFCC), the prosecuting agency announced the withdrawal of the charges at the Federal High Court in Abuja Wednesday morning.

According to Premium Times, the hearing, scheduled just two days before the trial judge's return date on 25th October, seemed to be intentionally held to minimize public attention.

Announcing the withdrawal of the charges, the lawyer said Mr Gambaryan, a United States citizen, was merely an employee of Binance, whose activities he was being prosecuted for.

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.

PREMIUM TIMES reports that Wednesday’s hearing marked the peak of extensive diplomatic lobbying between Nigerian and US government officials which has been ongoing for months. This effort focused on securing the release of Mr. Gambaryan, who has been denied bail twice because the judge considered him a flight risk.

Gambaryan was conspicuously absent in court during the last hearing of his case on Friday, Oct. 11.

This was after Justice Emeka Nwite rejected Gambaryan’s second bail application.

When the matter was called on Friday, all the counsel to the parties in the case were in court except the 2nd defendant, Gambaryan.

However, it was later confirmed that the Binance executive could not come to court because he was very sick.

Mordi, who appeared for Gambaryan, prayed the court for an adjournment.

“I urge for a date next week if only to report on the 2nd defendant’s state of health.

“This will allow parties to take necessary steps to ensure that the defendant is given the medical care required,” he said.

Iheanacho did not oppose Mordi’s oral application.

The lawyer said although he would have wanted the matter to proceed since their witness was in court, “we are also concerned about the defendant’s health status.”

The judge subsequently adjourned the matter until Oct. 25 for a report about Gambaryan’s health.