Court discharges Binance executive Gambaryan over health issues

The Federal High Court in Abuja has discharged Binance executive Tigran Gambaryan from money laundering charges brought by the Economic and Financial Crimes Commission (EFCC).

Justice Emeka Nwite struck out the charges on Wednesday, citing Gambaryan’s deteriorating health as the basis for his release.

The EFCC informed the court that Gambaryan, who had been in custody, was suffering from severe health issues, including the inability to walk without a wheelchair and the need for surgery.

According to a report from the Nigerian Correctional Service, corroborated by the Office of the National Security Adviser (NSA), Gambaryan’s condition had worsened, prompting the Commission to reconsider proceeding with the case.

During the hearing, EFCC counsel Ekele Iheanacho SAN acknowledged that Gambaryan’s health problems required urgent medical intervention, which would delay the trial.

Iheanacho further explained that Gambaryan, as an employee of Binance, played a limited role in the case, leading the Nigerian government to review its stance on his prosecution.

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Diplomatic considerations also played a role in the decision to drop the charges, as the Nigerian government held critical discussions with U.S. counterparts concerning the matter.

As a result, the EFCC urged the court to discharge Gambaryan from the case, which his lawyer, Mark Mordi SAN, did not oppose. However, Mordi requested that the court acquit Gambaryan, considering his minor role as a Binance employee.

In his ruling, Justice Nwite granted the EFCC’s application and ordered the immediate release of Gambaryan from the Nigerian Correctional Service in Kuje.

“The application of the prosecution’s counsel is granted, having reviewed the circumstances of the charge. The second defendant is hereby discharged,” the judge stated.

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This ruling ends the detention of Gambaryan, who had been accused of involvement in foreign exchange violations alongside Binance.

His release follows months of detention, during which his family repeatedly raised concerns about his health.

Gambaryan, along with another Binance executive, Nadeem Anjarwalla, had been detained in February 2024 on charges of tax evasion, foreign exchange contravention, and money laundering.

Anjarwalla later fled Nigeria during detention, Gambaryan remained in custody, challenging his detention on constitutional grounds.

The court has adjourned the case against Binance until November 22, when the EFCC is expected to continue its prosecution of the cryptocurrency exchange for alleged financial crimes.