Binance Compliance Head Tigran Gambaryan Released After 8-Month Detention in Nigeria

Written on 25/10/2024
Report Afrique

Tigran Gambaryan, Binance's Head of Financial Crime Compliance, has been released after spending eight months in detention in Nigeria. The world's largest cryptocurrency exchange confirmed his release in a statement shared with The PUNCH on Thursday.

Gambaryan has now returned to the United States, with Binance expressing relief over his safe return while maintaining its commitment to supporting staff facing legal challenges.

His detention had raised concerns within the global cryptocurrency community about regulatory issues in emerging markets.



According to Binance, “Today, American citizen Tigran Gambaryan left Nigeria to reunite with his family after enduring eight months of wrongful detention. He was freed from Kuje prison last night. His health has significantly deteriorated during his time in custody, and he is now able to access the medical care he urgently needs.”
 

This development comes on the heels of a Federal High Court ruling in Abuja, which took place on Wednesday, dismissing the money laundering charges that the Economic and Financial Crimes Commission (EFCC) had levied against Gambaryan.

During the court proceedings, the EFCC revealed that the case could not advance due to Gambaryan’s deteriorating health condition. A review conducted by the Nigerian Correctional Service, in conjunction with the Office of the National Security Adviser, indicated that Gambaryan’s situation had become so severe that he needed assistance to walk and required the use of a wheelchair.
 

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