In the most recent move, the Nigerian government dismissed all charges against Binance executive Tigran Gambaryan, sparking international attention and diplomatic efforts.
The Nigerian government has officially dropped all charges against Binance executive Tigran Gambaryan, following heightened controversy around the case.
Despite his deteriorating health, Gambaryan had been denied bail by Nigerian authorities, even after multiple requests from his legal team.
This latest decision has garnered attention from market participants, with many praising the outcome.
Nigeria Withdraws Charges Against Binance Executive Tigran Gambaryan
Tigran Gambaryan’s detention by the Nigerian government has fueled extensive discussions in the international market, particularly within the crypto space.
Gambaryan, an executive at Binance Holdings, was accused of money laundering with $34.4 million.
His trial gained significant international attention, especially as his health worsened during his detention.
Despite pleas from his legal team citing his declining health, Nigerian courts repeatedly denied him bail, viewing him as a potential flight risk.
However, in a sudden development, all charges against Gambaryan were dropped by the Nigerian government during a discreet court session.
According to statements made during the hearing, Gambaryan was merely an employee of Binance and not responsible for the company’s financial decisions, as reported by Premium Times.
His defense team echoed this sentiment, stressing that he was not directly involved in the company’s broader operations, which were the focus of the charges.
The decision to drop the case is believed to result from behind-the-scenes diplomatic efforts between the U.S. and Nigerian governments. U.S. lawmakers had also advocated for his release, pressuring both governments to resolve the situation.
A Deeper Look into Gambaryan’s Detention in Nigeria
Throughout the trial, Gambaryan’s health was a central concern. His legal team submitted multiple bail requests due to his deteriorating condition.
However, Judge Emeka Nwite denied these requests, stating that the Nigerian Correctional Service had sufficient medical resources to treat him.
In a recent ruling, the judge also noted that filing another bail motion while a previous appeal was still pending amounted to an abuse of the court process.
Additionally, Gambaryan’s absence at the October 18 hearing resulted in a new trial date being set for October 25.
However, today’s court session marked the case’s conclusion, with the Nigerian government officially withdrawing the charges.
This abrupt resolution has led to speculation that diplomatic negotiations between the U.S. and Nigeria played a significant role in the outcome.
Gambaryan, held at Kuje Correctional Centre since April, will now be released. Despite this, Binance remains scrutinized in a separate case involving tax evasion allegations.
