Nigerian authorities announced the lifting of charges against Binance executive Tigran Gambaryan after 7 months of detention. According to representatives of the African country’s prosecutor’s office, the executive does not hold decision-making positions in the aforementioned Cryptocurrency exchange.
Although the latter had been announced by its lawyers and Binance itself, the Nigerian authorities showed intransigence during this time. In this way, the Financial Crimes Commission (CCF) of that country would release the employee in a short time. It should be noted that the withdrawal of the charges occurs a few days before the trial for several crimes.
The main charges on which Gambaryan was imprisoned were money laundering and manipulation of the local currency, the naira. Now, the Abuja Court receives the new notification from the CCF in which it is determined that the executive was simply an employee of the cryptocurrency exchange. It should be noted that the US was probably influenced by this change of mind on the part of the Nigerian authorities.
Some lawmakers in the North American country requested that Gambaryan be declared a hostage or kidnapped in Nigeria. On the other hand, constant irregularities reported by Gambaryan’s relatives and lawyers stand out. Several abuses such as bribery and blackmail, among others, were allegedly committed against the Binance executive.
The lurid case against the Binance executive
At the end of 2023, the Binance exchange pleaded guilty to various crimes such as money laundering and others. As it was a platform that operated openly in Nigeria, the authorities of that country requested an audience with executives of that firm to hear testimonies.
The cryptocurrency trading company sent Tigran Gambaryan and Nadeem Anjarwalla to explain themselves to the authorities in February this year. However, Nigerian security forces had other plans and detained both executives on sensitive charges.
Anjarwalla managed to escape custody in March and was subsequently located in Kenya. Since then, the authorities of both countries have been negotiating a possible extradition through Interpol. Either way, the case appears to be closed, at least for Gambaryan, who can now seek treatment for his delicate health conditions.
This case is one of the most striking in the world of cryptocurrencies. According to Binance CEO Richard Teng, Nigerian authorities are untrustworthy. He affirms that the detention of the two executives is illegal, considering that the summons was to give testimony and not an arrest warrant. It should be noted that the authorities of the African country summoned Teng himself, who refused to travel for obvious reasons.
On several occasions, the CEO of Binance described the Nigerian authorities as extortionists.
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