Nigeria Withdraws Money Laundering Case Against Binance Executive Tigran Gambaryan for Medical Treatment

The Nigerian government has withdrawn its money laundering case against Tigran Gambaryan, a Binance executive, allowing him to seek medical treatment abroad, according to the government's lawyer. Gambaryan, a U.S. citizen and the head of financial crime compliance at Binance, has been in detention in Nigeria since late February, facing charges of laundering over $35 million—charges that both Gambaryan and Binance deny.

While the case against Gambaryan has been dropped to accommodate his medical needs, the Nigerian government intends to continue pursuing the money laundering case against Binance itself. Additionally, separate tax evasion charges against Binance, the world’s largest cryptocurrency exchange, remain active, though Binance has also denied those allegations.

The decision to drop the charges against Gambaryan comes after a significant legal turn. Earlier this month, Gambaryan was denied bail despite citing medical grounds. He told the court that he was suffering from a herniated disk and had been battling recurring bouts of pneumonia, tonsillitis, and malaria. Despite these claims, a judge ruled last month that the prison where he was being held was adequately equipped to handle his medical conditions.

However, this week, the government made a reversal. "We have withdrawn the money laundering charges against Tigran Gambaryan to allow him to get medical treatment outside the country,” said Ekele Ihenacho, the lawyer representing the Economic and Financial Crimes Commission (EFCC). Ihenacho also noted that diplomatic efforts contributed to securing Gambaryan's release, though he did not provide further details.

In August, Gambaryan’s wife, Yuki, had voiced serious concerns about her husband’s deteriorating health, stating that his condition in prison was so severe that “it might leave permanent damage and affect his ability to walk.” She pleaded for his release and vowed to continue fighting for his freedom.

Last week, Gambaryan’s trial was postponed to Friday due to his inability to appear in court because of his illness. However, the court later brought the hearing forward to Wednesday, enabling Gambaryan to be freed and receive medical treatment outside Nigeria. By fLEXI tEAM