Nigeria’s anti-corruption agency, the Economic and Financial Crimes Commission (EFCC), has dropped money-laundering charges against Binance executive Tigran Gambaryan to allow him to seek medical care overseas.
Gambaryan, a U.S. citizen and head of financial crime compliance at Binance, was arrested in February and accused, alongside the crypto exchange, of laundering $35.4 million—allegations both parties deny. Nigerian authorities blamed Binance for economic instability, accusing the platform of currency speculation and tax evasion, though the tax case remains active.
The EFCC cited Gambaryan’s deteriorating health, including a severe herniated disc, as the reason for the withdrawal. Held at Abuja’s Kuje Correctional Centre since April, his family had raised concerns about the impact of prison conditions on his health.
A High Court judge had previously denied him bail, labeling him a flight risk after his colleague, Nadeem Anjarwalla, escaped custody. Anjarwalla, a British-Kenyan national and Binance’s Africa manager, remains at large.
Binance, the world’s largest crypto exchange, also faces legal troubles in the U.S., where its founder Changpeng Zhao resigned last November and was sentenced to four months in prison in April for facilitating money laundering.
