The Nigerian government has officially dropped money laundering charges against Tigran Gambaryan, a Binance executive, after being held for six months. This decision comes on the heels of the release of Binance’s founder, Changpeng Zhao (CZ), from detention in California.
A lawyer for the prosecuting agency revealed the charges were withdrawn at the Federal High Court in Abuja, likely due to diplomatic lobbying between Nigerian and US government officials. Gambaryan had previously been denied bail, being considered a flight risk.
Despite concerns over Tigran Gambaryan's detention conditions and health, he was released without charges, partly due to diplomatic interventions involving US government figures. US citizen Gambaryan's arrest had led 18 US attorneys to advocate for his designation as a hostage.
Gambaryan, who was charged with currency speculation and money laundering alongside his employer Binance, had served time in Kuje Prison in Nigeria. His release indicates behind-the-scenes negotiations were successful, though formal accusations remain unfounded.
Tigran Gambaryan’s legal woes come amidst Binance’s ongoing legal battles, including separate tax evasion charges. This new legal outcome follows the discharge of previous charges against Binance’s founder, CZ.
