The Nigerian government has withdrawn money laundering charges against Tigran Gambaryan, an executive of Binance Holdings Limited.
Mr. R.U. Adaba, the Economic and Financial Crimes Commission’s lawyer, announced this decision at a Federal High Court in Abuja on Wednesday.
Persecondnews recalls that Gambaryan has been in detention since February for money laundering.
Adaba, however, said Gambaryan was merely an employee and not involved in the alleged offenses committed by the company.
Mark Mordi, Gambaryan’s counsel, said his client does not participate in the firm’s financial decisions.
This development comes after the Federal Inland Revenue Service (FIRS) dropped tax charges against Gambaryan in June.
Diplomatic issues and concerns over Gambaryan’s declining health led to the withdrawal of the charges.
Allegations of manipulating the Nigerian currency led to Gambaryan’s arrest and detention.
The government asserted that Binance Nigeria handled $26 billion, potentially resulting in a fine for the company.
Binance has since ended support for the Nigerian naira.
The withdrawal of charges marks a significant shift in the case, potentially paving the way for Gambaryan’s release.
His health issues, including malaria and pneumonia, have raised concerns.
The Nigerian court’s decision to discontinue the case due to Gambaryan’s ill health indicates a growing urgency to resolve the case.
More to follow…
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