Nigeria’s Federal High Court in Abuja has ordered the immediate release of Binance executive, Tigran Gambaryan, following the government’s decision to drop all money laundering charges against him. The U.S. citizen had been detained in Nigeria’s Kuje prison since February 2024.
The Economic and Financial Crimes Commission (EFCC), which is Nigeria’s anti-corruption agency, withdrew the case citing Gambaryan’s deteriorating health condition and his limited role as an employee at the cryptocurrency exchange. According to court documents, Gambaryan’s condition had worsened to the point where he “could barely walk without a wheelchair or crutches.”
The decision comes after months of intense diplomatic negotiations between Nigerian and U.S. officials, with several U.S. lawmakers advocating for Gambaryan’s release. The court had previously rejected two bail applications, including one in October, despite mounting concerns about his health.
While Gambaryan walks free, the legal battle continues for Binance. The cryptocurrency giant still faces charges of money laundering involving $34.4 million and separate tax evasion allegations in Nigeria. The company has denied all accusations.
The case has drawn significant attention in the cryptocurrency world, particularly after Gambaryan’s colleague, Nadeem Anjarwalla, reportedly escaped from pre-trial custody in March. This incident had influenced the court’s earlier decisions to deny Gambaryan bail, considering him a flight risk.
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Gambaryan, who ironically was a former U.S. federal agent specializing in cryptocurrency crimes, had initially traveled to Nigeria to address disputes over Binance’s operations in the country. Despite the company’s subsequent exit from Nigeria in March, he remained in detention until this recent development.