Tigran Gambaryan News: Cleared of Charges by Nigerian Government

Tigran Gambaryan Cleared of Charges: Read the Whole Story

In a significant development, the Nigerian government has withdrawn all criminal charges against Tigran Gambaryan, a Binance executive who had been detained since February.

On October 23, the Economic and Financial Crimes Commission (EFCC), the prosecuting agency, announced the decision at the Federal High Court in Abuja. This move brings an end to an eight-month ordeal for Gambaryan, a 40-year-old former US federal agent and head of Binance’s financial crime compliance team.

Tigran Gambaryan Arrest and Detention

• Initial Arrest: Gambaryan and his colleague, Nadeem Anjarwalla, were arrested in Abuja in February. While Anjarwalla later escaped, Gambaryan remained in detention at the Kuje Correctional Center in Abuja since April.

• Health Issues: Gambaryan has been coping with several health problems during his detention, including an injured back and malaria. His health issues prevented him from attending a court hearing last week.

Diplomatic Efforts and Legal Proceedings

Since the arrest, there have been ongoing diplomatic talks between Nigerian government and US government officials to secure Gambaryan's release. In June, Nigeria's Federal Inland Revenue Service removed the two executives as defendants in a tax evasion case; however, they continued to face money laundering charges until the recent withdrawal. 

The EFCC lawyer clarified that Gambaryan was merely an employee of Binance and did not hold a senior role within the company, a statement that likely influenced the decision to drop the charges.

Binance and Gambaryan’s family have been vocal in urging Nigerian authorities to drop what they described as a trumped-up case. In May, Binance CEO Richard Teng criticized Nigeria for setting a troubling precedent by detaining the two executives, raising concerns about the implications for international business relations. 

Justice Emeka Nwite of the Federal High Court accepted the withdrawal of the government's case, marking a significant victory for Gambaryan and his legal team. Mark Mordi, a Senior Advocate of Nigeria representing Gambaryan, concurred with the prosecution, stating that his client was not involved in the company's broader financial decisions.

Conclusion

The withdrawal of charges against Tigran Gambaryan marks the end of a challenging period for the Binance executive. The case has highlighted the complexities of international business operations and the importance of clear legal frameworks in such contexts. This development is likely to have significant implications for how multinational companies operate in regions with differing legal standards.