FG Drops Money Laundering Charges Against Binance Executive Over Ill Health
The Federal Government on Wednesday withdrew the money laundering charge filed against Tigran Gambaryan, a top executive of Binance Holdings Limited, citing his deteriorating health and diplomatic intervention as the reasons. Gambaryan, who was the 2nd defendant in the case, had been facing charges alongside the cryptocurrency platform, Binance Holdings Limited, brought by the Economic and Financial Crimes Commission (EFCC).
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EFCC’s counsel, R. U. Adagba, informed Justice Emeka Nwite of the Federal High Court in Abuja about the government’s decision to drop the charges against Gambaryan, stressing that his ill health warranted his release. However, the EFCC remains committed to pursuing the case against Binance Holdings Limited, the 1st defendant.
After hearing from both the prosecution and defence counsel, Justice Nwite discharged Gambaryan from the charges and adjourned the continuation of the trial against Binance to Nov. 22 and Nov. 25. The EFCC is expected to further its investigations into the company’s alleged involvement in financial crimes.
