Ad
Policy

Binance's Gambaryan Free to Leave Nigeria for Medical Treatment After Money Laundering Charges Dropped: Reports

Reuters reported that the government did so to allow Gambaryan to seek medical treatment abroad.

Updated Oct 23, 2024, 7:18 p.m. Published Oct 23, 2024, 11:56 a.m.
16:9 crop
16:9 crop
  • A local news outlet reported the money laundering charges against Tigran Gambaryan have been dropped by the government.
  • The charges were dropped to allow him to seek medical treatment abroad, another report said.
  • The government's charges against Binance itself remain.

Nigeria's government has withdrawn the money laundering charges against Binance executive Tigran Gambaryan days after a court denied him bail, local news outlet Punch reported first on Wednesday.

"People are on the way to give the order" to the Kuje prison and then he should be released "immediately," Gambaryan's lawyer Mark Mordi told CoinDesk on the phone. He did not share any other details about when Gambaryan is expected to leave the country.

Reuters reported that the government did so to allow Gambaryan to seek medical treatment abroad, citing the "government's lawyer" who also said the Nigeria would continue the money laundering case against Binance without Gambaryan.

Binance is facing a tax-evasion trial with Nigeria demanding $10 billion in penalties for enabling some $26 billion of untraceable funds which purportedly led to the Nigerian naira weakening to record lows against the dollar.

Gambaryan, Binance's head of financial crime compliance, has been detained in Nigeria since February, when he came to the nation at the invitation of the government to discuss issues related to the company. He had come with Nadeem Anjarwalla, Binance's regional manager for Africa, who escaped detention in March.

During his time in prison Gambaryan, a U.S. citizen, developed malaria, pneumonia and tonsillitis.But he was also suffering from complications tied to a herniated disc in his back which left him in need of a wheelchair – though in a video from his last court appearance, Gambaryan did not have a wheelchair and instead had to struggle on a single crutch, CoinDesk reported earlier.

Pressure had been mounting on the Nigerian authorities given Gambaryan's ill-health. Gambaryan's wife, Yuki Gambaryan illustrated the family's ordeal through a recent podcast and a video, besides other frequent efforts to bring attention to the case.

During one of the earlier hearings, Mordi, told the court that former Internal Revenue Service agent needed surgery since July 18. Binance CEO Richard Teng and members of the U.S. Congress had urged Nigeria and U.S. authorities to help bring him back to the U.S.

The Gambaryan family, Binance and Nigeria's Economic and Financial Crimes Commission did not immediately respond to a CoinDesk request for comment.

Read More: 'Is Daddy on the Airplane?' Jailed Binance Exec Gambaryan Family’s Ordeal in New Podcast

UPDATE (Oct. 23, 12:23 UTC): Adds context and details throughout.

UPDATE (Oct. 23, 12:59 UTC): Adds quote from Gambaryan lawyer.

Amitoj Singh

Amitoj Singh is a CoinDesk reporter focusing on regulation and the politics shaping the future of finance. He also presents shows for CoinDesk TV on occasion. He has previously contributed to various news organizations such as CNN, Al Jazeera, Business Insider and SBS Australia. Previously, he was Principal Anchor and News Editor at NDTV (New Delhi Television Ltd.), the go-to news network for Indians globally. Amitoj owns a marginal amount of Bitcoin and Ether below CoinDesk's disclosure threshold of $1,000.

picture of Amitoj Singh
Camomile Shumba

Camomile Shumba is a CoinDesk regulatory reporter based in the UK. Previously, Shumba interned at Business Insider and Bloomberg. Camomile has featured in Harpers Bazaar, Red, the BBC, Black Ballad, Journalism.co.uk, Cryptopolitan.com and South West Londoner. Shumba studied politics, philosophy and economics as a combined degree at the University of East Anglia before doing a postgraduate degree in multimedia journalism. While she did her undergraduate degree she had an award-winning radio show on making a difference. She does not currently hold value in any digital currencies or projects.

picture of Camomile Shumba