Connect with us

    Hi, what are you looking for?

    News

    FG Drops Money Laundering Charges Against Binance Executive – Ravenewsonline

    Binance Executive Tigran Gambaryan
    Binance Executive Tigran Gambaryan

    Federal government has withdrawn the money laundering charges filed against Binance executive, Gambaryan Tigran.

    The Economic and Financial Crimes Commission (EFCC) announced the withdrawal of the charges during a hearing at the Federal High Court in Abuja on Wednesday,October 23.

    During the hearing of the matter today, the EFCC’s lawyer explained that Mr. Gambaryan, a U.S. citizen, was merely an employee of Binance and not directly involved in the activities for which he was being prosecuted.

    Mark Mordi, Senior Advocate of Nigeria (SAN) and Gambaryan’s defense attorney, agreed, stating that his client had no involvement in the broader financial decisions of the company.

    The unexpected decision to drop the charges followed months of behind-the-scenes diplomatic efforts between Nigerian and U.S. officials, who had been lobbying for Mr. Gambaryan’s release. U.S. lawmakers had also advocated for his freedom, appealing to both Nigerian and American authorities. Despite this, Mr. Gambaryan had been denied bail twice, with the judge ruling him a flight risk.

    Binance, its U.S. head of financial crime compliance, Gambaryan, and the exchange British-Kenyan regional manager for Africa, Nadeem Anjarwalla, were facing money laundering charges to the tune of $35 million brought against them by the Economic and Financial Crimes Commission.

    Anjarwalla, however, fled lawful custody on March 22, 2024, while his counterpart, Gambaryan, was arraigned in April.

    Following his arraignment, the court ordered his remand to Kuje Correctional Facility.

    Spread the love
    Click to comment

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    ad

    You May Also Like

    Oil and Gas

    Leading oil and gas experts in Nigeria have called for the full adoption of digital technologies to overcome the complex challenges facing the country’s...

    News

    Russia’s Finance Ministry announced on Wednesday, September 24, that it plans to raise the country’s value-added tax (VAT) to help finance the ongoing war...

    Tech

    Lagos State has reaffirmed its position as Africa’s leading technology and innovation hub following the successful hosting of the GITEX Nigeria Tech Expo, Future...

    Tech

    Kashifu Inuwa, Director General of the National Information Technology Development Agency (NITDA), has said Nigeria’s collaboration with the Japan International Cooperation Agency (JICA) is...