{"id":20226,"date":"2024-10-23T13:08:50","date_gmt":"2024-10-23T13:08:50","guid":{"rendered":"https:\/\/theblogonline.com\/?p=20226"},"modified":"2024-10-23T13:12:16","modified_gmt":"2024-10-23T13:12:16","slug":"nigerian-court-discharge-sick-binance-executive-tigran-from-efccs-money-laundering-case","status":"publish","type":"post","link":"https:\/\/theblogonline.com\/?p=20226","title":{"rendered":"Nigerian Court Clears Sick Binance Executive Tigran of EFCC Money Laundering Charges"},"content":{"rendered":"

The Federal High Court in Abuja has discharged Binance executive Tigran Gambayran from money laundering charges filed by the Economic and Financial Crimes Commission (EFCC).<\/span>\u00a0<\/span><\/p>\n

Justice Emeka Nwite discharged Gambayran on Wednesday on health grounds, corroborated by the EFCC.<\/span>\u00a0<\/span><\/p>\n

The EFCC informed the court that the case could not proceed on the last adjourned date due to Gambayran\u2019s health condition, which, according to him, the state has managed effectively.<\/span>
\n<\/span><\/p>\n

The Commission stated that a report from the Nigerian Correctional Service, through the Office of the National Security Adviser (NSA), now indicates that Gambayran\u2019s health has deteriorated to the extent that he can hardly walk without the assistance of a wheelchair, in addition to suffering from other health issues.<\/span>\u00a0<\/span><\/p>\n

What Transpired in Court<\/span><\/b>\u00a0<\/span><\/h4>\n

In open court, the EFCC acknowledged that\u00a0 Gambayran needs to undergo surgery and that the surgery and recovery will take some time, potentially impacting the pace of the trial.<\/span>\u00a0<\/span><\/p>\n

\n
\n
\n
    \n
  • EFCC lawyer Ekele Iheanacho SAN further stated that the government has reviewed the case and recognized that Gambayran is merely an employee of Binance, whose status in the matter has no significant impact.\u00a0<\/span>\u00a0<\/span><\/li>\n
  • He also considered some critical diplomatic and international meetings involving the Nigerian government and its U.S. counterpart, saying the federal government has now resolved to discontinue the charges against Gambayran.<\/span>\u00a0<\/span><\/li>\n
  • He urged the court to discharge Gambayran accordingly.<\/span>\u00a0<\/span><\/li>\n
  • Gambayran\u2019s lawyer, Mark Mordi SAN, did not object to the withdrawal of the case against his client.<\/span>\u00a0<\/span><\/li>\n
  • But he requested that since one of the reasons for the withdrawal, as stated by the prosecution, is that his client is an employee of Binance, the court\u2019s order should be an acquittal rather than a discharge.<\/span>\u00a0<\/span><\/li>\n<\/ul>\n

    What the Judge Said<\/span><\/b>\u00a0<\/span><\/h4>\n

    Ruling on the EFCC\u2019s application on Wednesday, Justice Nwite struck out the money laundering charge against Gambayran.\u00a0<\/span>\u00a0<\/span><\/p>\n

    \u201cThe application of the prosecution\u2019s counsel is granted as prayed, having reviewed the circumstances of the charge. The second defendant is hereby discharged.\u201d\u00a0<\/em><\/p>\n

    Nwite subsequently ordered the immediate release of Gambayran from the Nigerian Correctional Service, Kuje.<\/span>\u00a0<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n

    The Court then adjourned till November 22 for continuation of EFCC\u2019s trial of\u00a0 Binance.\u00a0<\/span>\u00a0<\/span><\/p>\n

    The court\u2019s ruling ends the detention of the Binance employee, whom the EFCC accused of playing a role in foreign exchange contravention.<\/span>\u00a0<\/span><\/p>\n

    Backstory<\/span><\/b>\u00a0<\/span><\/p>\n

    \n
    <\/div>\n<\/div>\n
      \n
    • On February 28, 2024, Nigerian authorities detained two senior Binance executives: Nadeem Anjarwalla, a 37-year-old British-Kenyan who serves as the regional manager for Africa, and Tigran Gambaryan, a 39-year-old American who is the head of financial crime compliance at Binance.<\/span>\u00a0<\/span><\/li>\n
    • Nairametrics reports that the executives filed a fundamental rights case against agencies of the Nigerian government, citing a violation of their constitutional right to liberty.<\/span>\u00a0<\/span><\/li>\n
    • The duo was sued by the EFCC and the Federal Inland Revenue Service (FIRS), alongside Binance, on the grounds of tax evasion, foreign exchange contravention, and money laundering.<\/span>\u00a0<\/span><\/li>\n
    • Anjarwalla later fled Nigeria while in detention, while Gambaryan remained in detention based on a court order.<\/span>\u00a0<\/span><\/li>\n<\/ul>\n

      However, Gambaryan\u2019s family continued to raise concerns about his health while urging the EFCC to release him and pursue its case against Binance.<\/span>\u00a0<\/span><\/p>\n

       <\/p>\n","protected":false},"excerpt":{"rendered":"

      The Federal High Court in Abuja has discharged Binance executive Tigran Gambayran from money laundering charges filed by the Economic and Financial Crimes Commission (EFCC). <\/p>\n","protected":false},"author":1,"featured_media":20227,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[8618,75,9206,9204,9205],"class_list":["post-20226","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-binance-executive","tag-efcc","tag-money-laundering-case","tag-nigerian-court","tag-tigran"],"_links":{"self":[{"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/posts\/20226"}],"collection":[{"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/theblogonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=20226"}],"version-history":[{"count":6,"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/posts\/20226\/revisions"}],"predecessor-version":[{"id":20233,"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/posts\/20226\/revisions\/20233"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/media\/20227"}],"wp:attachment":[{"href":"https:\/\/theblogonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=20226"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/theblogonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=20226"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/theblogonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=20226"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}