The legal developments regarding Binance and its executives have taken a notable turn recently. Tigran Gambaryan, who holds the position of head of financial crime compliance at Binance, was previously embroiled in a case involving alleged money laundering that concerned over $35 million.
Key Developments in the Case
- Tigran Gambaryan was accused of laundering over $35 million.
- Nadeem Anjarwalla, a colleague, was also implicated but fled the country.
Nigerian Government Drops Charges
On October 23, the Nigerian government announced that all charges against Gambaryan have been dropped. This surprising step was revealed during a court hearing in Abuja, where R.U. Adaba, the Economic and Financial Crimes Commission (EFCC) lawyer, made the statement.
Gambaryan’s defense attorney, Mark Mordi, confirmed that Gambaryan, an employee of Binance, had no significant role in the company’s financial decisions, which contributed to the decision to withdraw charges.
Background on Continued Legal Proceedings
The withdrawal of charges came just days before a court session scheduled for October 25, a timing that appeared deliberate to minimize media attention. Anjarwalla’s escape on a Middle Eastern airline, aided by a fake passport, was also highlighted during this legal process.
Reasons Behind the Decision to Withdraw Charges
According to Adaba, the decision to drop the charges stemmed from factors such as:
- “Diplomatic interventions” on behalf of Gambaryan.
- Assessment of Gambaryan’s involvement in the alleged crimes.
Another EFCC lawyer mentioned that health concerns also played a role in this decision, stating, “We have withdrawn the money laundering charges against Tigran Gambaryan to allow him to get medical treatment outside the country.”
“While he hasn’t been acquitted, the matter has yet to be resolved on its merits, and we still intend to call witnesses.” – R.U. Adaba
Future of the Binance Trial
Although charges against Gambaryan have been dropped, the ongoing trial against Binance is still set to proceed, with courtroom sessions scheduled for November 22 and 25.
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