- Tigran Gambaryan, a higher-up at Binance, has been freed from custody in Nigeria.
- His release came after the Nigerian EFCC (Economic and Financial Crimes Commission) decided to drop the money laundering accusations against the Binance staff member.
- Following his release, Gambaryan has been confirmed to be on his way to the United States.
After enduring eight challenging months in custody, Binance executive Tigran Gambaryan has been released from detention in Nigeria. His freedom was granted when the Nigerian EFCC dropped the allegations of money laundering against him during a court session in Abuja, where it was determined he did not hold significant decision-making power at Binance.
Money Laundering Charges Dropped, Gambaryan Gains Freedom
This past Wednesday, a Nigerian High Court in Abuja acquitted Gambaryan of the money laundering charges brought against him by the EFCC, finally granting the Binance employee his long-awaited liberty after eight difficult months in detention.
Gambaryan, the Head of Financial Crimes Compliance at Binance, was arrested along with his colleague Nadeem Anjarwalla, the Regional Manager for Binance Africa, upon their arrival in Nigeria for official duties back in February.
Shortly after their apprehension, both Binance and its executives faced charges of money laundering and tax evasion. While the Nigerian Federal Inland Revenue Service eventually dropped the tax evasion allegations, the EFCC’s money laundering claims persisted, leaving Gambaryan imprisoned under dire health conditions in Nigeria’s Kuje Prison.
During the court session on Wednesday, an EFCC attorney revealed that Gambaryan held no significant decision-making authority within Binance, and thus was not liable for the alleged financial misconduct. As a result, the US national was exonerated of the money laundering charges and is now free to return home.
Binance CEO, Gambaryan’s Wife, Others Celebrate His Release
Richard Teng, the CEO of Binance, expressed his relief and gratitude following Gambaryan’s release after nearly eight months in detention.
“Throughout this challenging time, Tigran demonstrated remarkable strength, and we celebrate his resilience in such a difficult situation. We are incredibly thankful to all who worked tirelessly in support of Tigran’s release,” stated Teng.
Teng reaffirmed Binance’s dedication to collaborating with global regulators to “ensure compliance and transparency in the evolving digital asset industry” and expressed eagerness to “move past this episode” and build a brighter future for the blockchain sector.
Binance also intends to continue “playing a constructive role” in aiding Nigeria’s tech-savvy youth in leveraging blockchain technology to address economic and social challenges.
Gambaryan’s wife, Yuki, also expressed profound gratitude for her husband’s release.
“It is an immense relief that this day has finally arrived. The last eight months have felt like a living nightmare,”
She also expressed appreciation to the US government for their efforts in securing her husband’s freedom, highlighting their children’s eagerness to reunite with him after such an extended separation.
During his time in detention, Gambaryan reportedly suffered from malaria, pneumonia, and complications due to a herniated disk in his back, which eventually left him wheelchair-bound. At one point, the 40-year-old collapsed in the courtroom, raising substantial concerns about his health deteriorating irreparably.
