A top executive of Binance has left Nigeria after the charges were dropped. Tigran Gambaryan had been in jail for eight months.
Tigran Gambaryan, a top executive at the cryptocurrency exchange Binance, has left Nigeria after spending eight months in jail. This information comes from CoinDesk, citing his lawyer.
Gambaryan and Binance were accused of money laundering and currency speculation amounting to $34.4 million.
During the court hearing, a prosecutor from Nigeria’s Economic and Financial Crimes Commission stated:
“The government reviewed the case, taking into account that the second defendant (Gambaryan) is an employee of the first defendant (Binance), whose status in this case holds more influence than that of the second defendant. Additionally, considering some important international and diplomatic reasons, the state seeks to terminate the case against the second defendant.”
Furthermore, Binance CEO Richard Teng commented on Gambaryan’s release, stating that Gambaryan displayed immense strength during this challenging period and thanked everyone who dedicated “countless hours in support of his release.”
Teng also emphasized that the health and well-being of the Binance executive remain the top priority.
“Binance continues to collaborate with global regulators to ensure compliance and transparency in the digital asset space. We are committed to putting this case behind us and moving forward in creating a bright future for the blockchain industry worldwide,” added the CEO of Binance.
It is worth noting that on October 23, 2024, the Nigerian government dropped all money laundering charges against Tigran Gambaryan. The hearings were held two days earlier than scheduled to minimize public attention.