Nigerian court fires Binance executive Tigran in EFCC money laundering case

The Federal High Court in Abuja has cleared Binance executive Tigran Gambayran of money laundering charges brought by the Economic and Financial Crimes Commission (EFCC).

Justice Emeka Nwite discharged Gambayran on Wednesday on health grounds, corroborated by the EFCC.

The EFCC informed the court that the case could not continue on the last adjourned date because of Gambayran’s state of health, which it said the state has managed effectively.

The Commission stated that a report by the Nigerian Correctional Service, through the Office of the National Security Adviser (NSA), now indicates that Gambayran’s health has deteriorated to the point where he can hardly walk without the assistance from a wheelchair, in addition to suffering from other health problems.

What happened in court

In open court, the EFCC acknowledged that Gambayran has to undergo surgery and that the surgery and recovery will take time, which could affect the pace of the trial.

• EFCC lawyer Ekele Iheanacho SAN further stated that the government has reviewed the case and recognized that Gambayran is only an employee of Binance whose status in the matter has no impact significant
• He also considered some critical diplomatic and international meetings with the Nigerian government and his American counterpart, saying that the federal government has now decided to drop the charges against Gambayran.
• He urged the court to dismiss Gambayran accordingly.
• Gambayran’s lawyer, Mark Mordi SAN, did not object to the withdrawal of the case against his client.
• But he requested that since one of the reasons for the withdrawal, as claimed by the prosecution, is that his client is an employee of Binance, the court order should be an acquittal rather than a discharge.

What the judge said

Ruling on the EFCC application on Wednesday, Justice Nwite struck out the money laundering charge against Gambayran.

“The request of the prosecuting attorney is accepted as prayed, having reviewed the circumstances of the charge. The second defendant is dismissed”.

Nwite subsequently ordered the immediate release of Gambayran from the Correctional Service of Nigeria, Kuje.

The Court then adjourned until November 22 to continue the EFCC’s Binance trial.

The court’s ruling ends the detention of the Binance employee, whom the EFCC accused of having a role in the forex contravention.

background history

• On February 28, 2024, Nigerian authorities arrested two senior Binance executives: Nadeem Anjarwalla, a 37-year-old British-Kenyan who serves as regional manager for Africa, and Tigran Gambaryan, a 39-year-old American who ‘is the boss. of Financial Crimes Compliance at Binance.
• Nairametrics reports that the executives filed a fundamental rights case against Nigerian government agencies, citing a violation of their constitutional right to freedom.
• The duo was sued by the EFCC and the Federal Inland Revenue Service (FIRS), along with Binance, on charges of tax evasion, currency contravention and money laundering.
• Anjarwalla later fled Nigeria while in custody, while Gambaryan remained in custody on a court order.

However, Gambaryan’s family continued to raise concerns about his health as they urged the EFCC to release him and continue their case against Binance.

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