Binance, the world’s largest cryptocurrency exchange, has been having problems with Nigeria for a while now. At this point, Tigran Gambaryan, a former IRS special agent who joined Binance in 2021, was being held on charges of money laundering, tax evasion, and manipulating the price of the Nigerian currency.
The long-awaited news has finally arrived, as the Nigerian government has dropped money laundering charges against Binance executive Tigran Gambaryan, who has been detained in the country since February.
However, the Nigerian government will continue its investigation against Binance for money laundering and also tax evasion charges.
According to local news outlet Punch, the government made the decision to allow Gambaryan to receive medical treatment abroad.
Gambaryan, Binance’s head of financial crimes compliance, has been in custody since February, when he arrived in the country at the Nigerian government’s invitation to discuss matters related to the company’s operations. Gambaryan suffered from malaria, pneumonia and tonsillitis while in prison, and has had a difficult time. Binance has been pushing hard to secure Gambaryan’s release. The Nigerian government has so far refused to accept the demands.
At this point, a court in Nigeria had rejected Gambaryan's request for bail on medical grounds two weeks ago.
*This is not investment advice.