Nigerian authorities have reportedly dropped all charges against Binance executive Tigran Gambaryan.<\/p>\n
The American and his employer had been facing accusations of money laundering. This legal development follows the government\u2019s earlier decision to drop tax evasion charges against both.<\/p>\n
While the charges were primarily directed at the crypto exchange, which repeatedly denied any wrongdoing, Gambaryan bore the brunt.<\/p>\n
He was placed under house arrest on February 26, 2024, alongside his counterpart Nadeem Anjarwalla, who headed the exchange\u2019s Kenyan operation. Anjarwalla managed to escape detention in March, with Gambaryan being sent to Kuje prison soon after.<\/p>\n
However, his health became a central concern in his detention, with reports surfacing of his declining condition. He was said to be suffering from malaria and had issues related to a herniated disk. His family also said that he wasn\u2019t receiving proper medical care, making his condition even worse.<\/p>\n
According to a Bloomberg report<\/a>, these health problems pushed Nigerian courts to dismiss Gambaryan\u2019s money laundering case. Interestingly, only two weeks prior, the court had denied<\/a> him bail.<\/p>\n Throughout his detention, Binance repeatedly informed Nigerian authorities that the executive was not a \u201cdecision maker\u201d at the company, meaning he had no control over the actions being scrutinized.<\/p>\n The case caught the attention of the crypto giant\u2019s CEO Richard Teng, who addressed<\/a> the situation publicly, stating that the West African country had never been a significant market for Binance.<\/p>\n In August, he clarified a key misunderstanding, emphasizing that the $26 billion figure mentioned by the government referred to total transaction volume in 2023, not Binance\u2019s revenue from Nigeria.<\/p>\n U.S. officials have also been actively involved in advocating for his release. In September, two senior State Department officials revealed<\/a> that American diplomats had been lobbying Nigerian authorities, urging them to release him due to his worsening health.<\/p>\n U.S. politicians, including Rep. French Hill, also visited him in prison, describing <\/a>the situation as \u201coutrageous\u201d after footage emerged of a distressed Gambaryan in court. Hill expressed satisfaction with the dismissal of tax evasion charges against the Binance employee but stated he believed the money laundering charges were wrongful.<\/p>\n Meanwhile, on the same day Nigerian authorities dropped the charges against Gambaryan, the U.S. announced<\/a> a new \u201cbilateral liaison\u201d with the country, focusing on cryptocurrency and illicit finance. Further, in a press release, the U.S. reaffirmed its commitment to strengthening relations with Nigeria.<\/p>\n It stated that its Department of Justice would continue collaborating with Nigerian officials to enhance their capacity to handle cybercrime investigations and prosecutions. This development is particularly significant as anonymous sources had previously indicated that Gambaryan\u2019s imprisonment had reportedly strained relations between the two countries.<\/p>\n The post Nigeria Drops Charges Against Binance Executive Tigran Gambaryan Following Health Concerns: Report<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Nigerian authorities have reportedly dropped all charges against Binance executive Tigran Gambaryan. The American and his employer had been facing accusations of money laundering. This legal development follows the government\u2019s earlier decision to drop tax evasion charges against both. Health Concerns and U.S. Pressure While the charges were primarily directed at the crypto exchange, which […]<\/p>\n","protected":false},"author":0,"featured_media":16156,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-16155","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/16155"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16155"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/16155\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/16156"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16155"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16155"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16155"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Bilateral Liasion<\/h2>\n