Abuja, Nigeria – October 23, 2024 – A Nigerian court today ordered the release of Tigran Gambaryan, a Binance executive, following the government’s decision to drop money laundering charges against him. Gambaryan, a U.S. citizen and head of financial crime compliance at the world’s largest cryptocurrency exchange, had been detained in Nigeria since late February.
The Economic and Financial Crimes Commission (EFCC) withdrew the case against Gambaryan in open court in Abuja. While the EFCC has indicated that it will continue to pursue the money laundering case against Binance, the charges against Gambaryan have been dismissed to allow him to seek medical treatment abroad.
Gambaryan’s wife, Yuki, had previously expressed deep concern about her husband’s deteriorating health while in prison. She had called for his release and vowed to fight for his freedom.
The decision to release Gambaryan comes after weeks of legal proceedings and a recent adjournment of his trial due to his ill health. The court’s ruling today has paved the way for Gambaryan to receive medical care outside of Nigeria.
Separate tax evasion charges against Binance remain pending. The cryptocurrency exchange has consistently denied both the money laundering and tax evasion allegations.
