In a surprising turn of events, the Nigerian Federal Government has dropped all charges against Tigran Gambaryan, a Binance executive arrested in February 2024. Gambaryan had faced accusations of tax evasion and money laundering.
While the tax evasion charge was dismissed in June, Gambaryan and another Binance executive, Nadeem Anjarwalla, were subsequently charged with money laundering and illegal currency speculation. However, on Wednesday morning, a lawyer representing the Economic and Financial Crimes Commission (EFCC) informed the court that all charges against Gambaryan were being dropped.
The lawyer stated that Gambaryan, a United States citizen, was merely an employee of Binance and was not personally responsible for the alleged offenses. This unexpected development comes after months of legal battles and international pressure.
A Timeline of Events
- February 2024: Gambaryan and Anjarwalla were arrested upon arrival in Nigeria for a meeting with government officials.
- June 2024: The tax evasion charge against Gambaryan was dropped, but he remained in custody on money laundering charges.
- Ongoing Pressure: The US government, through lawmakers and former prosecutors, applied pressure on Nigeria to release Gambaryan, citing his deteriorating health and the alleged violation of his rights as a US citizen.
- Bail Denials: Despite international pressure, Nigeria twice rejected bail applications for Gambaryan.
Implications of the Case
The dropping of charges against Gambaryan marks a significant development in the ongoing relationship between Nigeria and Binance. It also raises questions about the reasons behind the government’s decision and the future of Binance’s operations in the country