Binance executive released after being detained in Nigeria for over 7 months

Court cites health issues in Gambaryan's release.

Key Takeaways

• Tigran Gambaryan was released from detention on health grounds.
• Charges of money laundering and currency manipulation against Gambaryan were dropped.

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Binance executive Tigran Gambaryan was released from a Nigerian prison after being detained since late February on charges of money laundering and currency manipulation, the government’s lawyer said in court on Wednesday.

The Nigerian authorities have also dismissed charges against Gambaryan. The latest decision comes after his lawyer’s unsuccessful plea for acquittal but successful argument for release on health grounds. Gambaryan had been held at the Kuje correctional center in Abuja since early April, struggling with a herniated disk that impaired his mobility.

Gambaryan’s family claimed he was being denied access to lawyers and necessary medical care, highlighting his deteriorating health while detained in Nigeria. Last month, the US officials urged Nigeria to release Gambaryan due to his worsening health conditions in prison.

Despite dropping their charges against the Binance executive, the government would maintain their pursuit of the company on allegations of money laundering, tax evasion, and operating without a license, said the government’s lawyer.

Nigerian authorities initiated legal action against Binance and two of its executives, Gambaryan and Nadeem Anjarwalla, in February. The court proceedings began after the arrests of Gambaryan and Anjarwalla. Anjarwalla is currently at large after fleeing custody.

This is a developing story.

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