The federal government has withdrawn the money laundering charges filed against an executive of Binance Holdings Limited, Tigran Gambaryan.
Recall that the Economic and Financial Crimes Commission, EFCC had in April this year, arraigned Binance, a cryptocurrency firm, and Gambaryan over alleged money laundering.
Mr Gambaryan, a United States citizen, has been in detention since February following the clampdown on the cryptocurrency firm over alleged manipulation of naira.
A lawyer representing the EFCC announced the withdrawal of the charges at the Federal High Court in Abuja on Wednesday.
According to the EFCC lawyer, the Nigerian government decided to withdraw the charges against Gambryan because he was merely an employee of Binance, whose activities he was being prosecuted for.
Mark Mordi, a Senior Advocate of Nigeria (SAN) representing Gambaryan, did not oppose the move.
He said his client was not involved in the company’s broader financial decisions.
Recall that Gambaryan, was conspicuously absent in court during the last hearing of his case on Friday Oct. 11.
This was after rejection of Gambaryan’s second bail application by Justice Emeka Nwite.
The Binance executive had requested for bail on health grounds as he has been coming to court on a wheelchair.
When the matter was called, all the counsels to the parties in the case were in court except the 2nd defendant, Gambaryan.
However, it was later confirmed that the Binance executive could not come to court because he was very sick from the authorities of the Kuje correctional centre.
Mordi, who appeared for Gambaryan, prayed the court for an adjournment.
“I urge for a date next week if only to report on the 2nd defendant’s state of health.
“This will allow parties to take necessary steps to ensure that the defendant is given the medical care required,” he said.
Iheanacho did not opposed Mordi’s oral application.
The lawyer said though he would have wanted the matter to proceed since their witness was in court, “we are also of concern about the defendant’s health status.”
“We are very concerned about the issues of health.”
The judge subsequently adjourned the matter until Oct. 25 for a report about Gambaryan’s health.
However, following today’s development, the Binance executive may have become a free man.
