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Nigeria Withdraws Charges Against Binance Executive Amid Health Concerns

Nigeria's anti-corruption agency has decided to withdraw money-laundering charges against a senior executive from Binance, enabling him to seek medical care abroad. <br>

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Nigeria Withdraws Charges Against Binance Executive Amid Health Concerns

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  1. Nigeria Withdraws Charges Against Binance Executive Amid Health Concerns

  2. Nigeria's anti-corruption agency has decided to withdraw money-laundering charges against a senior executive from Binance, enabling him to seek medical care abroad. Tigran Gambaryan, a U.S. citizen, had been detained during a business trip to Nigeria in February and faced accusations, alongside Binance, of laundering $35.4 million—a claim they both refuted.

  3. Gambaryan, who managed financial crime compliance for Binance, was implicated in a case that linked the platform to the instability of Nigeria's currency. Authorities alleged that Binance’s activities, including exchange rate manipulation and currency speculation, contributed to economic challenges.

  4. The charges were part of a broader crackdown by Nigerian officials on cryptocurrency firms, amid concerns that digital platforms were facilitating illegal activities such as money laundering and terrorism financing. Additionally, tax evasion allegations against Binance remain active as authorities continue their legal pursuit.

  5. Gambaryan’s family had expressed concerns about his health, citing deteriorating conditions while he was detained at Kuje Correctional Centre, which aggravated a pre-existing back injury. Despite two previous requests for bail being denied due to perceived flight risks, authorities have now opted to drop the charges against him, following concerns over his health.

  6. Read More: https://www.iconsedge.com/news/nigeria-withdraws-charges-against-binance-executive-amid-health-concerns-nid-80.html

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