Naija government don officially drop di money laundering charges wey dem file against Tigran Gambaryan, one executive of Binance Holdings Limited. Dis decision come after months of legal battles and diplomatic efforts.
The Economic and Financial Crimes Commission (EFCC) bin bring di charges against Gambaryan in April, accusing am and Binance of being involved in money laundering schemes worth $34.4 million. Gambaryan, a U.S. citizen, bin dey detention since February because of di government’s clampdown on di cryptocurrency firm over alleged manipulation of di naira.
On Wednesday, October 23, EFCC’s lawyer announce di withdrawal of di charges during a hearing at di Federal High Court in Abuja. Di lawyer explain say Gambaryan was just an employee of Binance and no get personal involvement in di financial practices under investigation.
Mark Mordi, Senior Advocate of Nigeria (SAN) and Gambaryan’s defense attorney, agree with di prosecution, saying his client no involve in di broader financial decisions of di company. Di case gain significant attention because of its implications for di cryptocurrency sector and di regulation of financial activities linked to digital currencies in Nigeria.
Gambaryan bin face tough conditions while in detention at di Kuje Correctional Centre in Abuja, with his health deteriorating. Despite dis, di court bin reject his bail applications twice, citing him as a flight risk. However, di latest development show say di government withdraw di charges due to his ill health and diplomatic intervention from di U.S. government.
