The Federal Government of Nigeria has dropped the money laundering charges against Tigran Gambaryan, an executive at Binance Holdings Limited.
Gambaryan, who serves as the U.S. head of financial crime compliance for the cryptocurrency exchange, was previously facing accusations of involvement in a $35 million money laundering scheme.
The charges, brought forward by Nigeria’s Economic and Financial Crimes Commission (EFCC), also implicated Nadeem Anjarwalla, Binance’s regional manager for Africa.
Both Gambaryan and Anjarwalla were accused of facilitating illegal financial transactions through the Binance platform, which led to their initial detainment by Nigerian authorities.
According to sources, both executives were taken into custody by the office of the National Security Adviser earlier in the year.
However, in a twist to the case, Anjarwalla reportedly escaped from custody on March 22, 2024. His whereabouts remain unknown since his disappearance, and authorities have not provided updates on efforts to locate him.
Following Anjarwalla’s escape, Gambaryan continued to face legal proceedings and was officially arraigned in court in April 2024. After his arraignment, he was remanded to the Kuje Correctional Facility, pending further court hearings.
